Stratos Wealth Partners LTD. Has $1.03 Million Stock Holdings in Lincoln National Corporation (NYSE:LNC)

Stratos Wealth Partners LTD. lowered its stake in shares of Lincoln National Corporation (NYSE:LNC) by 11.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 28,640 shares of the financial services provider’s stock after selling 3,809 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Lincoln National were worth $1,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Lincoln National in the fourth quarter valued at approximately $76,951,000. Balyasny Asset Management L.P. grew its position in Lincoln National by 301.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider’s stock valued at $48,269,000 after purchasing an additional 1,142,759 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Lincoln National by 84.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider’s stock valued at $48,948,000 after purchasing an additional 708,584 shares during the period. SG Americas Securities LLC increased its stake in Lincoln National by 1,818.4% during the 1st quarter. SG Americas Securities LLC now owns 661,972 shares of the financial services provider’s stock valued at $23,771,000 after purchasing an additional 627,466 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Lincoln National by 190.9% during the fourth quarter. LPL Financial LLC now owns 741,330 shares of the financial services provider’s stock worth $23,508,000 after buying an additional 486,478 shares during the last quarter. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

Shares of Lincoln National stock opened at $34.08 on Friday. The business’s fifty day simple moving average is $33.62 and its 200 day simple moving average is $33.95. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.81. Lincoln National Corporation has a 12 month low of $27.58 and a 12 month high of $39.85. The firm has a market capitalization of $5.82 billion, a P/E ratio of 4.84, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.41 EPS. As a group, analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Thursday, July 10th. Lincoln National’s payout ratio is 25.57%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, April 2nd. Piper Sandler decreased their price objective on Lincoln National from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Wells Fargo & Company increased their price objective on Lincoln National from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley lifted their target price on Lincoln National from $32.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, May 19th. Finally, Wall Street Zen lowered Lincoln National from a “hold” rating to a “sell” rating in a research report on Sunday. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.78.

Insider Buying and Selling

In other Lincoln National news, EVP Brian Kroll sold 10,075 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total transaction of $333,482.50. Following the completion of the transaction, the executive vice president directly owned 48,743 shares of the company’s stock, valued at approximately $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sean Woodroffe sold 43,622 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $32.78, for a total value of $1,429,929.16. Following the completion of the sale, the executive vice president owned 154,102 shares in the company, valued at approximately $5,051,463.56. The trade was a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

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.