Pathway Financial Advisers LLC Takes Position in Lincoln National Co. (NYSE:LNC)

Pathway Financial Advisers LLC purchased a new position in Lincoln National Co. (NYSE:LNC) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 1,415 shares of the financial services provider’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new position in shares of Lincoln National in the first quarter worth about $25,000. Brown Brothers Harriman & Co. purchased a new position in shares of Lincoln National during the fourth quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Lincoln National by 249.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 873 shares during the period. Westend Capital Management LLC bought a new position in Lincoln National in the first quarter worth approximately $40,000. Finally, Transcendent Capital Group LLC purchased a new position in Lincoln National during the 4th quarter worth $35,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Price Performance

Shares of NYSE:LNC traded down $4.03 during trading on Friday, reaching $30.02. 4,210,155 shares of the company’s stock traded hands, compared to its average volume of 1,314,085. Lincoln National Co. has a fifty-two week low of $20.85 and a fifty-two week high of $36.46. The company has a quick ratio of 0.26, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The company has a 50-day simple moving average of $32.01 and a 200-day simple moving average of $29.65. The firm has a market cap of $5.10 billion, a PE ratio of 4.11, a P/E/G ratio of 0.29 and a beta of 1.84.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.06. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. During the same period in the previous year, the business posted $2.02 earnings per share. As a group, analysts predict that Lincoln National Co. will post 5.83 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend was Wednesday, July 10th. Lincoln National’s dividend payout ratio is presently 24.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LNC shares. Bank of America dropped their price target on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Jefferies Financial Group raised their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Evercore ISI upped their price target on shares of Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler increased their price objective on shares of Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Finally, StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Lincoln National presently has an average rating of “Hold” and a consensus target price of $31.18.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 55,127 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 198,255 shares of the company’s stock, valued at $6,457,165.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Lincoln National Profile

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.