Key Points
- Major shareholder National Life Insurance Lincoln bought 2,300,098 shares on Dec. 19 at $10.87 (~$25.0M), raising its stake to 7,529,837 shares (a 43.98% increase), and made a second ~ $25.0M purchase of 2,254,486 shares on Feb. 25.
- Lincoln National declared a quarterly dividend of $0.45 (paid May 1, ex-dividend Apr 10), equivalent to an annualized $1.80 and a 5.3% yield with a 33.9% payout ratio.
- The company beat Q4 EPS estimates ($2.21 vs. $1.86) and revenue slightly topped forecasts, while analysts remain mixed with a consensus "Hold" rating and an average price target of $46.58.
Lincoln National Corporation (NYSE:LNC - Get Free Report) major shareholder National Life Insuranc Lincoln bought 2,300,098 shares of the stock in a transaction dated Friday, December 19th. The stock was bought at an average price of $10.87 per share, for a total transaction of $25,002,065.26. Following the purchase, the insider directly owned 7,529,837 shares of the company's stock, valued at approximately $81,849,328.19. The trade was a 43.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
National Life Insuranc Lincoln also recently made the following trade(s):
- On Wednesday, February 25th, National Life Insuranc Lincoln bought 2,254,486 shares of Lincoln National stock. The shares were bought at an average cost of $11.09 per share, for a total transaction of $25,002,249.74.
Lincoln National Stock Down 7.0%
Shares of LNC stock opened at $34.28 on Friday. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $46.82. The stock has a market cap of $6.52 billion, a P/E ratio of 6.46, a P/E/G ratio of 1.65 and a beta of 1.30. The stock has a 50 day moving average of $41.63 and a 200 day moving average of $41.37. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.59.
Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.35. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The business had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.85 billion. During the same quarter last year, the company earned $1.91 EPS. The business's revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Lincoln National Corporation will post 7.69 EPS for the current year.
Lincoln National Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a $0.45 dividend. The ex-dividend date is Friday, April 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.3%. Lincoln National's dividend payout ratio is 33.90%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Lincoln National by 6.3% in the third quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider's stock valued at $802,717,000 after buying an additional 1,183,934 shares during the last quarter. Bain Capital Prairie LLC acquired a new position in Lincoln National in the 4th quarter valued at about $835,360,000. Dimensional Fund Advisors LP raised its stake in Lincoln National by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,233,327 shares of the financial services provider's stock valued at $277,574,000 after acquiring an additional 502,600 shares during the last quarter. State Street Corp raised its stake in Lincoln National by 0.7% during the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider's stock valued at $214,504,000 after acquiring an additional 40,676 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Lincoln National by 21.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider's stock worth $240,051,000 after acquiring an additional 1,035,505 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
LNC has been the topic of several research analyst reports. TD Cowen reiterated a "hold" rating on shares of Lincoln National in a research report on Wednesday, January 28th. UBS Group raised their target price on Lincoln National from $42.00 to $43.00 and gave the stock a "neutral" rating in a research note on Friday, October 31st. Wells Fargo & Company raised shares of Lincoln National from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $41.00 to $48.00 in a research report on Wednesday. Jefferies Financial Group upped their target price on shares of Lincoln National from $52.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, December 15th. Finally, Zacks Research cut Lincoln National from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 4th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $46.58.
Read Our Latest Analysis on Lincoln National
Lincoln National Company Profile
(
Get Free Report)
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.
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