Capstone Investment Advisors LLC purchased a new stake in shares of Lincoln National Corporation (NYSE:LNC – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,432 shares of the financial services provider’s stock, valued at approximately $546,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Trust Co. of Vermont purchased a new stake in Lincoln National in the 2nd quarter worth approximately $28,000. JPL Wealth Management LLC purchased a new position in Lincoln National during the third quarter valued at approximately $29,000. Transamerica Financial Advisors LLC purchased a new position in Lincoln National during the fourth quarter valued at approximately $32,000. Los Angeles Capital Management LLC bought a new position in shares of Lincoln National in the fourth quarter worth approximately $34,000. Finally, NBT Bank N A NY increased its stake in shares of Lincoln National by 2,051.1% in the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 923 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.
Insider Activity at Lincoln National
In related news, EVP Sean Woodroffe sold 11,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $45.28, for a total transaction of $498,080.00. Following the completion of the transaction, the executive vice president directly owned 119,947 shares of the company’s stock, valued at approximately $5,431,200.16. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craigt T. Beazer sold 30,000 shares of Lincoln National stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the sale, the executive vice president directly owned 103,906 shares in the company, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 56,007 shares of company stock valued at $1,929,266. Insiders own 1.03% of the company’s stock.
Lincoln National Stock Performance
Lincoln National (NYSE:LNC – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 EPS for the quarter, topping the consensus estimate of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The business had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company earned $2.36 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Lincoln National Corporation will post 7.97 earnings per share for the current fiscal year.
Lincoln National Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, October 9th. Lincoln National’s payout ratio is currently 15.60%.
Analyst Ratings Changes
Several analysts have recently commented on LNC shares. UBS Group raised their price objective on shares of Lincoln National from $39.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Jefferies Financial Group increased their price target on Lincoln National from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Weiss Ratings raised Lincoln National from a “hold (c)” rating to a “buy (b)” rating in a report on Monday, August 3rd. National Bank Financial set a $50.00 target price on Lincoln National in a research report on Monday. Finally, TD Cowen lifted their target price on Lincoln National from $37.00 to $42.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.07.
Check Out Our Latest Stock Report on Lincoln National
Lincoln National Company Profile
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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