Maryland State Retirement & Pension System Purchases 671 Shares of Lincoln National Corporation $LNC

Maryland State Retirement & Pension System lifted its position in shares of Lincoln National Corporation (NYSE:LNC) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,127 shares of the financial services provider’s stock after purchasing an additional 671 shares during the period. Maryland State Retirement & Pension System’s holdings in Lincoln National were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Lincoln National by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,854,788 shares of the financial services provider’s stock worth $174,335,000 after acquiring an additional 97,600 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Lincoln National by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider’s stock worth $110,753,000 after acquiring an additional 208,114 shares during the period. Northern Trust Corp lifted its stake in shares of Lincoln National by 6.1% in the first quarter. Northern Trust Corp now owns 2,566,274 shares of the financial services provider’s stock worth $92,155,000 after acquiring an additional 146,667 shares during the period. AQR Capital Management LLC lifted its stake in shares of Lincoln National by 84.5% in the first quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider’s stock worth $72,039,000 after acquiring an additional 935,225 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Lincoln National by 0.4% in the first quarter. Invesco Ltd. now owns 1,597,913 shares of the financial services provider’s stock worth $57,381,000 after acquiring an additional 5,936 shares during the period. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Price Performance

Shares of LNC opened at $38.10 on Friday. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $43.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. The business’s 50 day moving average price is $40.75 and its two-hundred day moving average price is $35.89. The firm has a market cap of $7.22 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the firm earned $1.87 earnings per share. On average, equities analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National’s dividend payout ratio is presently 31.41%.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president directly owned 123,815 shares of the company’s stock, valued at $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LNC shares. Piper Sandler reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Lincoln National in a research note on Tuesday. National Bankshares set a $53.00 price objective on Lincoln National in a research note on Tuesday. Wall Street Zen raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Evercore ISI boosted their price target on Lincoln National from $45.00 to $46.00 and gave the company an “in-line” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on Lincoln National from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Thursday. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $43.09.

Lincoln National Company 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.