Lincoln National Co. (NYSE:LNC) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can lifted its stake in shares of Lincoln National Co. (NYSE:LNC) by 11.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 148,378 shares of the financial services provider’s stock after purchasing an additional 15,778 shares during the period. Bank of Montreal Can’s holdings in Lincoln National were worth $4,758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board grew its position in shares of Lincoln National by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 374,076 shares of the financial services provider’s stock worth $11,634,000 after buying an additional 26,322 shares in the last quarter. Holderness Investments Co. boosted its holdings in Lincoln National by 14.9% in the second quarter. Holderness Investments Co. now owns 15,721 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 2,033 shares in the last quarter. AE Wealth Management LLC boosted its holdings in Lincoln National by 10.4% in the second quarter. AE Wealth Management LLC now owns 20,631 shares of the financial services provider’s stock valued at $642,000 after purchasing an additional 1,938 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Lincoln National by 22.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 12,519 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 2,254 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Lincoln National in the second quarter valued at approximately $1,196,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Lincoln National Price Performance

Lincoln National stock opened at $30.92 on Wednesday. Lincoln National Co. has a 12 month low of $20.85 and a 12 month high of $36.46. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. The business has a 50 day simple moving average of $30.97 and a 200-day simple moving average of $30.69. The stock has a market capitalization of $5.26 billion, a PE ratio of 4.23, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81.

Lincoln National (NYSE:LNC) last released its quarterly earnings results 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. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the business earned $2.02 earnings per share. Equities analysts predict that Lincoln National Co. will post 5.71 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.82%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio (DPR) is presently 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.