Abel Hall LLC Makes New $307,000 Investment in Lincoln National Co. (NYSE:LNC)

Abel Hall LLC acquired a new position in shares of Lincoln National Co. (NYSE:LNC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,400 shares of the financial services provider’s stock, valued at approximately $307,000.

Other hedge funds have also recently added to or reduced their stakes in the company. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Lincoln National in the 3rd quarter valued at $243,000. Swiss National Bank increased its stake in shares of Lincoln National by 1.0% in the 3rd quarter. Swiss National Bank now owns 372,800 shares of the financial services provider’s stock valued at $9,204,000 after purchasing an additional 3,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Lincoln National by 26.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,960,653 shares of the financial services provider’s stock valued at $48,409,000 after purchasing an additional 412,312 shares during the last quarter. Pathstone Family Office LLC bought a new position in shares of Lincoln National in the 3rd quarter valued at $399,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Lincoln National in the 3rd quarter valued at $376,000. Institutional investors own 72.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price target on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. JPMorgan Chase & Co. raised their price objective on Lincoln National from $26.00 to $29.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Piper Sandler cut their price objective on Lincoln National from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Evercore ISI raised their price objective on Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods raised their price objective on Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.90.

Lincoln National Trading Down 2.0 %

LNC traded down $0.61 during midday trading on Friday, hitting $30.44. 1,016,269 shares of the company were exchanged, compared to its average volume of 1,502,933. The firm has a market capitalization of $5.18 billion, a P/E ratio of 4.16, a P/E/G ratio of 0.24 and a beta of 1.85. Lincoln National Co. has a 1-year low of $20.85 and a 1-year high of $33.33. The firm’s 50 day moving average price is $29.97 and its 200-day moving average price is $28.32. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.10 by $0.27. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. As a group, equities analysts forecast that Lincoln National Co. will post 6 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Wednesday, July 10th. Lincoln National’s dividend payout ratio is 24.62%.

Insider Activity

In other news, EVP Sean Woodroffe sold 55,127 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total value of $1,795,486.39. Following the transaction, the executive vice president now directly owns 198,255 shares of the company’s stock, valued at approximately $6,457,165.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by company insiders.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.