43,765 Shares in Lincoln National Co. (NYSE:LNC) Bought by Ted Buchan & Co

Ted Buchan & Co purchased a new position in shares of Lincoln National Co. (NYSE:LNC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 43,765 shares of the financial services provider’s stock, valued at approximately $1,361,000.

Several other hedge funds have also recently modified their holdings of LNC. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Lincoln National by 6.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 75,664 shares of the financial services provider’s stock worth $2,041,000 after purchasing an additional 4,738 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Lincoln National by 26.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,212 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 1,725 shares during the period. TD Asset Management Inc acquired a new stake in shares of Lincoln National during the fourth quarter worth $2,692,000. Treasurer of the State of North Carolina lifted its holdings in shares of Lincoln National by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 74,947 shares of the financial services provider’s stock worth $2,021,000 after purchasing an additional 730 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in Lincoln National in the fourth quarter worth $27,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Up 0.3 %

LNC opened at $31.51 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The firm has a market cap of $5.36 billion, a P/E ratio of 4.31, a PEG ratio of 0.31 and a beta of 1.81. Lincoln National Co. has a 52 week low of $20.85 and a 52 week high of $36.46. The business’s fifty day simple moving average is $31.00 and its 200 day simple moving average is $30.66.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $2.02 EPS. As a group, equities research analysts anticipate that Lincoln National Co. will post 5.71 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared 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. This represents a $1.80 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s payout ratio is 24.62%.

Analysts Set New Price Targets

Several research firms have issued reports on LNC. Morgan Stanley cut their price objective on 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. Piper Sandler increased their price objective on Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Bank of America cut their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 2nd. Finally, Barclays began coverage on Lincoln National in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price target for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.64.

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.