Sequoia Financial Advisors LLC Purchases New Position in Lincoln National Co. (NYSE:LNC)

Sequoia Financial Advisors LLC purchased a new stake in shares of Lincoln National Co. (NYSE:LNC) during the first quarter, Holdings Channel reports. The institutional investor purchased 6,498 shares of the financial services provider’s stock, valued at approximately $207,000.

A number of other institutional investors also recently modified their holdings of LNC. Brown Brothers Harriman & Co. purchased a new stake in Lincoln National in the 4th quarter worth approximately $27,000. Transcendent Capital Group LLC purchased a new stake in Lincoln National in the 4th quarter worth approximately $35,000. CVA Family Office LLC purchased a new stake in Lincoln National in the 4th quarter worth approximately $37,000. FinTrust Capital Advisors LLC purchased a new stake in Lincoln National in the 4th quarter worth approximately $38,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Lincoln National by 249.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 873 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Sean Woodroffe sold 55,127 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $32.57, for a total value of $1,795,486.39. Following the completion of the sale, the executive vice president now directly owns 198,255 shares of the company’s stock, valued at approximately $6,457,165.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $31.49 on Thursday. The firm has a market cap of $5.35 billion, a PE ratio of 4.31, a price-to-earnings-growth ratio of 0.24 and a beta of 1.84. Lincoln National Co. has a 12-month low of $20.85 and a 12-month high of $33.33. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. The company’s fifty day simple moving average is $31.10 and its two-hundred day simple moving average is $29.05.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.27. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.64 billion. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. As a group, equities analysts expect that Lincoln National Co. will post 5.99 EPS for the current year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend is Wednesday, July 10th. Lincoln National’s dividend payout ratio (DPR) is presently 24.62%.

Wall Street Analyst Weigh In

LNC has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on shares of Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Jefferies Financial Group increased their price target on shares of Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Piper Sandler increased their price target on shares of Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Lincoln National from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Lincoln National currently has an average rating of “Hold” and an average target price of $31.20.

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.