28,800 Shares in Lincoln National Corporation $LNC Bought by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new stake in Lincoln National Corporation (NYSE:LNC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,800 shares of the financial services provider’s stock, valued at approximately $1,165,000.

Several other hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC acquired a new stake in shares of Lincoln National during the 3rd quarter valued at about $32,000. Advisors Asset Management Inc. acquired a new position in Lincoln National in the second quarter worth approximately $28,000. Mather Group LLC. bought a new position in Lincoln National during the third quarter valued at approximately $39,000. CoreCap Advisors LLC lifted its stake in Lincoln National by 372.1% in the third quarter. CoreCap Advisors LLC now owns 1,100 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 867 shares during the last quarter. Finally, HM Payson & Co. grew its position in Lincoln National by 37.2% in the third quarter. HM Payson & Co. now owns 1,291 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 350 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Lincoln National news, major shareholder National Life Insuranc Lincoln acquired 2,254,486 shares of Lincoln National stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $11.09 per share, with a total value of $25,002,249.74. Following the completion of the transaction, the insider owned 9,784,322 shares of the company’s stock, valued at $108,508,130.98. The trade was a 29.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Waltman Reid sold 3,050 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total transaction of $127,520.50. Following the transaction, the executive vice president directly owned 118,567 shares in the company, valued at $4,957,286.27. This trade represents a 2.51% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is owned by company insiders.

Lincoln National Stock Down 7.0%

LNC stock opened at $34.28 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $46.82. The company has a 50-day moving average of $41.63 and a two-hundred day moving average of $41.39. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30.

Lincoln National (NYSE:LNC) last posted 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 return on equity of 18.52% and a net margin of 6.46%.The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company posted $1.91 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.45 per share. 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 payout ratio is 33.90%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LNC. Piper Sandler raised their price target on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Wells Fargo & Company upgraded Lincoln National from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $41.00 to $48.00 in a report on Wednesday, February 25th. Mizuho assumed coverage on Lincoln National in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 price target for the company. Zacks Research lowered Lincoln National from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Finally, TD Cowen reissued a “hold” rating on shares of Lincoln National in a research note on Wednesday, January 28th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.58.

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.