Stewart & Patten Co. LLC reduced its stake in shares of Lincoln National Co. (NYSE:LNC) by 2.8% during the first quarter, Holdings Channel reports. The firm owned 6,900 shares of the financial services provider’s stock after selling 200 shares during the period. Stewart & Patten Co. LLC’s holdings in Lincoln National were worth $451,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in LNC. Quadrant Capital Group LLC raised its stake in shares of Lincoln National by 1.5% in the third quarter. Quadrant Capital Group LLC now owns 3,955 shares of the financial services provider’s stock valued at $181,000 after buying an additional 59 shares during the period. HL Financial Services LLC bought a new stake in shares of Lincoln National during the third quarter valued at about $264,000. Commonwealth Equity Services Inc raised its stake in shares of Lincoln National by 52.8% in the third quarter. Commonwealth Equity Services Inc now owns 37,819 shares of the financial services provider’s stock valued at $1,777,000 after buying an additional 13,069 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Lincoln National by 39.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 50,315 shares of the financial services provider’s stock valued at $2,364,000 after buying an additional 14,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Lincoln National by 0.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 683,719 shares of the financial services provider’s stock valued at $32,121,000 after buying an additional 3,961 shares during the period. Institutional investors and hedge funds own 78.34% of the company’s stock.

Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

Shares of Lincoln National Co. (NYSE:LNC) traded down 0.25% during trading on Friday, reaching $64.90. 1,201,256 shares of the company’s stock were exchanged. Lincoln National Co. has a 52 week low of $35.27 and a 52 week high of $73.31. The stock has a market capitalization of $14.62 billion, a price-to-earnings ratio of 12.90 and a beta of 2.10. The stock has a 50 day moving average price of $66.19 and a 200-day moving average price of $63.37.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.06. Lincoln National had a net margin of 8.88% and a return on equity of 9.93%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the firm posted $1.54 earnings per share. Lincoln National’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Lincoln National Co. will post $7.00 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $1.16 annualized dividend and a yield of 1.78%. Lincoln National’s payout ratio is 23.25%.

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Several analysts have recently issued reports on LNC shares. Barclays PLC reiterated a “buy” rating and issued a $78.00 target price on shares of Lincoln National in a research report on Monday, January 9th. Zacks Investment Research raised shares of Lincoln National from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Tuesday, January 10th. Deutsche Bank AG raised their price target on shares of Lincoln National from $66.00 to $69.00 and gave the stock a “hold” rating in a research note on Monday, January 23rd. Citigroup Inc initiated coverage on shares of Lincoln National in a research note on Thursday, January 26th. They issued a “buy” rating and a $77.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on shares of Lincoln National from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Lincoln National currently has a consensus rating of “Buy” and an average target price of $67.75.

In related news, CEO Dennis R. Glass sold 159,847 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $69.50, for a total value of $11,109,366.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eric G. Johnson sold 16,599 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $69.18, for a total transaction of $1,148,318.82. Following the completion of the transaction, the director now owns 9,254 shares in the company, valued at approximately $640,191.72. The disclosure for this sale can be found here. Insiders sold 482,641 shares of company stock worth $34,206,653 in the last 90 days. 1.41% of the stock is currently owned by insiders.

Lincoln National Company Profile

Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.

5 Day Chart for NYSE:LNC

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