Pinebridge Investments L.P. Has $3.58 Million Stock Holdings in Lincoln National Co. (NYSE:LNC)

Pinebridge Investments L.P. grew its position in shares of Lincoln National Co. (NYSE:LNCGet Rating) by 120.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,764 shares of the financial services provider’s stock after purchasing an additional 29,906 shares during the quarter. Pinebridge Investments L.P.’s holdings in Lincoln National were worth $3,579,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. bought a new stake in shares of Lincoln National in the 4th quarter valued at $28,000. Private Capital Group LLC increased its stake in shares of Lincoln National by 48.2% in the 1st quarter. Private Capital Group LLC now owns 483 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 157 shares in the last quarter. Hanson & Doremus Investment Management increased its stake in shares of Lincoln National by 735.6% in the 1st quarter. Hanson & Doremus Investment Management now owns 493 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 434 shares in the last quarter. Glassman Wealth Services increased its stake in shares of Lincoln National by 136.6% in the 4th quarter. Glassman Wealth Services now owns 504 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 291 shares in the last quarter. Finally, Confluence Wealth Services Inc. bought a new stake in shares of Lincoln National in the 4th quarter valued at $36,000. Institutional investors own 86.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LNC shares. JPMorgan Chase & Co. lowered their price objective on shares of Lincoln National from $83.00 to $77.00 in a research note on Monday, July 11th. The Goldman Sachs Group reduced their price target on shares of Lincoln National from $78.00 to $60.00 and set a “neutral” rating for the company in a research report on Monday, June 6th. Citigroup initiated coverage on shares of Lincoln National in a research report on Monday, May 23rd. They issued a “neutral” rating and a $56.00 price target for the company. Morgan Stanley reduced their price target on shares of Lincoln National from $80.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Lincoln National in a research report on Thursday, June 23rd. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.90.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $47.57 on Monday. The company’s 50-day moving average is $48.59 and its 200 day moving average is $56.95. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.19 and a current ratio of 0.19. The company has a market capitalization of $8.10 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 0.32 and a beta of 1.89. Lincoln National Co. has a fifty-two week low of $44.89 and a fifty-two week high of $77.57.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Thursday, October 6th. Lincoln National’s dividend payout ratio (DPR) is currently 37.50%.

About Lincoln National

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Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.

See Also

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