Point72 Asset Management L.P. Raises Stock Position in Lincoln National Co. (NYSE:LNC)

Point72 Asset Management L.P. increased its position in shares of Lincoln National Co. (NYSE:LNC) by 96.0% in the second quarter, Holdings Channel.com reports. The firm owned 616,288 shares of the financial services provider’s stock after purchasing an additional 301,788 shares during the quarter. Point72 Asset Management L.P.’s holdings in Lincoln National were worth $19,167,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of Lincoln National by 1.6% during the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 420 shares during the period. Gateway Investment Advisers LLC boosted its stake in shares of Lincoln National by 4.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 426 shares during the period. Whittier Trust Co. boosted its stake in shares of Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 431 shares during the period. National Bank of Canada FI boosted its stake in shares of Lincoln National by 1.0% during the 2nd quarter. National Bank of Canada FI now owns 45,854 shares of the financial services provider’s stock worth $1,435,000 after purchasing an additional 468 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. boosted its stake in shares of Lincoln National by 0.6% during the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 84,712 shares of the financial services provider’s stock worth $2,635,000 after purchasing an additional 495 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Trading Up 0.0 %

NYSE:LNC opened at $31.42 on Monday. Lincoln National Co. has a one year low of $20.85 and a one year high of $36.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $5.34 billion, a P/E ratio of 4.30, a P/E/G ratio of 0.31 and a beta of 1.81. The firm has a 50-day simple moving average of $31.02 and a 200-day simple moving average of $30.63.

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, topping the consensus estimate of $1.77 by $0.07. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. During the same quarter in the previous year, the business posted $2.02 EPS. Equities analysts anticipate that Lincoln National Co. will post 5.71 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.73%. Lincoln National’s dividend payout ratio (DPR) is presently 24.62%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LNC. JPMorgan Chase & Co. lifted their price target on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. Jefferies Financial Group boosted their price objective on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Sandler boosted their price objective on shares of Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Barclays assumed coverage on shares of Lincoln National in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price objective for the company. Finally, Morgan Stanley lowered their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National currently has a consensus rating of “Hold” and an average price target of $32.64.

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.