Jennison Associates LLC Takes Position in Lincoln National Corporation $LNC

Jennison Associates LLC bought a new stake in shares of Lincoln National Corporation (NYSE:LNC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,262,613 shares of the financial services provider’s stock, valued at approximately $43,686,000. Jennison Associates LLC owned 0.74% of Lincoln National as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd bought a new position in Lincoln National during the second quarter worth about $1,314,000. State of New Jersey Common Pension Fund D boosted its position in Lincoln National by 3.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 57,651 shares of the financial services provider’s stock worth $1,995,000 after purchasing an additional 1,922 shares during the period. Ethic Inc. boosted its position in Lincoln National by 106.9% during the second quarter. Ethic Inc. now owns 25,640 shares of the financial services provider’s stock worth $886,000 after purchasing an additional 13,248 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Lincoln National in the 2nd quarter valued at approximately $2,858,000. Finally, Huntleigh Advisors Inc. raised its holdings in Lincoln National by 1.2% during the 2nd quarter. Huntleigh Advisors Inc. now owns 40,098 shares of the financial services provider’s stock valued at $1,387,000 after acquiring an additional 494 shares during the period. 72.81% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the completion of the sale, the executive vice president directly owned 123,815 shares of the company’s stock, valued at approximately $4,864,691.35. The trade was a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.51% of the company’s stock.

Lincoln National Trading Up 1.8%

Shares of LNC opened at $40.74 on Friday. The firm’s 50 day simple moving average is $40.75 and its 200 day simple moving average is $36.55. The company has a market capitalization of $7.72 billion, a P/E ratio of 7.11, a P/E/G ratio of 0.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $43.66.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.20. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.80 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period last year, the firm posted $2.06 earnings per share. Sell-side analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National’s payout ratio is currently 31.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LNC. National Bankshares set a $53.00 price target on Lincoln National in a report on Tuesday, October 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Lincoln National in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on Lincoln National from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Tuesday, July 8th. Wall Street Zen raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Wolfe Research raised shares of Lincoln National to a “strong sell” rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $43.09.

Lincoln National 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.