United Services Automobile Association Increases Stake in Lincoln National Co. (NYSE:LNC)

United Services Automobile Association raised its holdings in Lincoln National Co. (NYSE:LNC) by 12.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,417 shares of the financial services provider’s stock after buying an additional 1,482 shares during the period. United Services Automobile Association’s holdings in Lincoln National were worth $417,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LNC. Private Advisor Group LLC boosted its holdings in Lincoln National by 4.9% in the fourth quarter. Private Advisor Group LLC now owns 38,026 shares of the financial services provider’s stock valued at $1,026,000 after purchasing an additional 1,791 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Lincoln National by 5.5% in the 4th 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. Teacher Retirement System of Texas grew its position in shares of Lincoln National by 42.6% during the fourth quarter. Teacher Retirement System of Texas now owns 18,695 shares of the financial services provider’s stock worth $504,000 after buying an additional 5,586 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Lincoln National by 16.4% during the fourth quarter. BNP Paribas Financial Markets now owns 290,965 shares of the financial services provider’s stock worth $7,847,000 after buying an additional 40,999 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Lincoln National by 8.5% in 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 acquiring an additional 166,256 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Bank of America dropped their price objective on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Morgan Stanley decreased their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Piper Sandler increased their price objective on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group increased their price target on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National currently has an average rating of “Hold” and an average price target of $32.64.

Lincoln National Price Performance

LNC stock opened at $28.70 on Thursday. The business has a 50 day simple moving average of $31.27 and a 200-day simple moving average of $30.29. Lincoln National Co. has a twelve month low of $20.85 and a twelve month high of $36.46. The company has a market capitalization of $4.88 billion, a P/E ratio of 3.93, a PEG ratio of 0.30 and a beta of 1.81. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.77 by $0.07. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period in the prior year, the business earned $2.02 EPS. As a group, equities analysts anticipate that Lincoln National Co. will post 5.74 EPS for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.45 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.80 annualized dividend and a yield of 6.27%. Lincoln National’s dividend payout ratio is currently 24.62%.

About Lincoln National

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.