Envestnet Asset Management Inc. Purchases 12,339 Shares of Lincoln National Co. (NYSE:LNC)

Envestnet Asset Management Inc. boosted its holdings in shares of Lincoln National Co. (NYSE:LNC) by 15.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 89,928 shares of the financial services provider’s stock after acquiring an additional 12,339 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lincoln National were worth $2,797,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LNC. Central Pacific Bank Trust Division bought a new stake in Lincoln National in the 1st quarter valued at $25,000. Whittier Trust Co. raised its position in shares of Lincoln National by 106.7% in the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 431 shares during the period. Adirondack Trust Co. acquired a new stake in shares of Lincoln National during the 2nd quarter worth about $31,000. Transcendent Capital Group LLC acquired a new stake in shares of Lincoln National during the 4th quarter worth about $35,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Lincoln National by 249.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after buying an additional 873 shares during the period. 72.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LNC has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 2nd. Barclays initiated coverage on Lincoln National in a report on Wednesday, September 4th. They set an “equal weight” rating and a $35.00 price target for the company. Bank of America decreased their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Jefferies Financial Group lifted their target price on Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Piper Sandler lowered their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.64.

Lincoln National Stock Performance

Shares of NYSE:LNC opened at $31.84 on Friday. The company’s 50 day simple moving average is $30.90 and its 200 day simple moving average is $30.69. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 4.36, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81. Lincoln National Co. has a 1 year low of $20.85 and a 1 year high of $36.46. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the firm posted $2.02 earnings per share. As a group, research analysts predict that Lincoln National Co. will post 5.71 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.65%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio (DPR) is presently 24.62%.

Lincoln National Company 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.