Illinois Municipal Retirement Fund Takes $260,000 Position in Lincoln National Co. (NYSE:LNC)

Posted by Defense World Staff on Apr 25th, 2023

Illinois Municipal Retirement Fund acquired a new stake in Lincoln National Co. (NYSE:LNC – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,464 shares of the financial services provider’s stock, valued at approximately $260,000.

Several other institutional investors have also modified their holdings of LNC. Achmea Investment Management B.V. purchased a new stake in shares of Lincoln National in the first quarter worth approximately $30,000. Ronald Blue Trust Inc. raised its holdings in shares of Lincoln National by 134.2% in the fourth quarter. Ronald Blue Trust Inc. now owns 712 shares of the financial services provider’s stock worth $31,000 after buying an additional 408 shares during the period. Boyd Watterson Asset Management LLC OH purchased a new stake in shares of Lincoln National in the fourth quarter worth approximately $26,000. Byrne Asset Management LLC purchased a new stake in shares of Lincoln National in the fourth quarter worth approximately $31,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Lincoln National by 25.4% in the third quarter. Parkside Financial Bank & Trust now owns 1,017 shares of the financial services provider’s stock worth $44,000 after buying an additional 206 shares during the period. 78.00% of the stock is owned by institutional investors.

Lincoln National Stock Up 1.1 %

Shares of LNC stock opened at $21.19 on Tuesday. Lincoln National Co. has a 1-year low of $19.74 and a 1-year high of $65.24. The stock’s fifty day moving average price is $25.25 and its 200 day moving average price is $32.80. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19.

Lincoln National (NYSE:LNC – Get Rating) last announced its earnings results on Wednesday, February 8th. The financial services provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.92). Lincoln National had a negative return on equity of 11.85% and a negative net margin of 11.89%. The business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Sell-side analysts anticipate that Lincoln National Co. will post 8.41 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, April 6th. This represents a $1.80 annualized dividend and a yield of 8.49%. Lincoln National’s payout ratio is presently -13.60%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LNC shares. JPMorgan Chase & Co. reduced their price target on Lincoln National from $36.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 4th. StockNews.com began coverage on Lincoln National in a report on Thursday, March 16th. They issued a “sell” rating on the stock. Wells Fargo & Company reduced their price objective on Lincoln National from $35.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. Barclays reduced their price objective on Lincoln National from $29.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 11th. Finally, Piper Sandler reduced their price objective on Lincoln National from $36.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, April 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Lincoln National currently has an average rating of “Hold” and a consensus target price of $32.07.

Lincoln National Profile

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.