WESPAC Advisors LLC Takes $737,000 Position in Lincoln National Corporation $LNC

WESPAC Advisors LLC purchased a new position in shares of Lincoln National Corporation (NYSE:LNC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,265 shares of the financial services provider’s stock, valued at approximately $737,000.

Other hedge funds also recently bought and sold shares of the company. Concurrent Investment Advisors LLC lifted its position in shares of Lincoln National by 2.7% during the third quarter. Concurrent Investment Advisors LLC now owns 18,573 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 484 shares during the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new position in Lincoln National in the 3rd quarter worth about $383,000. Quent Capital LLC bought a new stake in Lincoln National during the 3rd quarter valued at about $62,000. Prosperitas Financial LLC boosted its position in Lincoln National by 9.6% in the 3rd quarter. Prosperitas Financial LLC now owns 83,863 shares of the financial services provider’s stock valued at $3,382,000 after buying an additional 7,312 shares during the period. Finally, MGO One Seven LLC purchased a new stake in Lincoln National in the 3rd quarter valued at about $202,000. Institutional investors own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LNC. Keefe, Bruyette & Woods lifted their price target on shares of Lincoln National from $43.00 to $44.00 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Wolfe Research upgraded Lincoln National to a “strong sell” rating in a report on Tuesday, September 16th. UBS Group increased their price target on Lincoln National from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Mizuho began coverage on Lincoln National in a report on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group increased their target price on shares of Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.25.

Insiders Place Their Bets

In other Lincoln National news, Director Owen Ryan purchased 2,000 shares of Lincoln National stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average cost of $42.17 per share, with a total value of $84,340.00. Following the completion of the transaction, the director owned 12,000 shares in the company, valued at approximately $506,040. This trade represents a 20.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Christopher Kennedy sold 3,519 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the transaction, the executive vice president owned 118,985 shares in the company, valued at approximately $5,253,187.75. This trade represents a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.54% of the company’s stock.

Lincoln National Price Performance

LNC opened at $41.27 on Wednesday. The firm has a market capitalization of $7.84 billion, a PE ratio of 3.70, a price-to-earnings-growth ratio of 0.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.28 and a quick ratio of 0.28. The business’s 50-day moving average is $43.08 and its two-hundred day moving average is $40.41. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $46.82.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.20. Lincoln National had a net margin of 11.49% and a return on equity of 18.77%. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period last year, the business earned $2.06 EPS. Research analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, January 12th. Lincoln National’s payout ratio is currently 16.16%.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.