TD Asset Management Inc Buys Shares of 99,800 Lincoln National Co. (NYSE:LNC)

TD Asset Management Inc purchased a new position in shares of Lincoln National Co. (NYSE:LNC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 99,800 shares of the financial services provider’s stock, valued at approximately $2,692,000.

Other hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC raised its stake in Lincoln National by 2,107.9% during the 3rd quarter. Hsbc Holdings PLC now owns 4,279,462 shares of the financial services provider’s stock valued at $105,703,000 after purchasing an additional 4,085,637 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Lincoln National by 53.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,157,195 shares of the financial services provider’s stock worth $77,951,000 after purchasing an additional 1,098,532 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Lincoln National by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,127,550 shares of the financial services provider’s stock valued at $57,383,000 after buying an additional 166,256 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Lincoln National by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,068,422 shares of the financial services provider’s stock valued at $55,785,000 after buying an additional 107,769 shares during the period. Finally, Norges Bank acquired a new stake in Lincoln National during the fourth quarter worth about $54,026,000. 72.81% of the stock is owned by institutional investors.

Lincoln National Stock Performance

NYSE:LNC opened at $32.43 on Friday. The stock has a market capitalization of $5.51 billion, a P/E ratio of 4.44, a price-to-earnings-growth ratio of 0.26 and a beta of 1.85. Lincoln National Co. has a 1 year low of $20.85 and a 1 year high of $33.33. The firm has a 50 day moving average of $29.95 and a 200-day moving average of $27.97. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.87.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.27. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.64 billion. As a group, sell-side analysts anticipate that Lincoln National Co. will post 6 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Lincoln National’s dividend payout ratio is presently 24.62%.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 55,127 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.57, for a total value of $1,795,486.39. Following the completion of the transaction, the executive vice president now owns 198,255 shares in the company, valued at approximately $6,457,165.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LNC. Evercore ISI raised their price objective on Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Jefferies Financial Group upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and increased their price objective for the company from $26.00 to $34.00 in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler dropped their price target on shares of Lincoln National from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Lincoln National presently has an average rating of “Hold” and an average price target of $29.90.

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.