Mackenzie Financial Corp Invests $1.55 Million in Lincoln National Co. (NYSE:LNC)

Mackenzie Financial Corp bought a new stake in Lincoln National Co. (NYSE:LNC) during the second quarter, HoldingsChannel.com reports. The fund bought 49,780 shares of the financial services provider’s stock, valued at approximately $1,548,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp raised its position in Lincoln National by 1.6% in the second quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 420 shares during the period. Gateway Investment Advisers LLC raised its holdings 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 valued at $312,000 after buying an additional 426 shares during the period. Whittier Trust Co. lifted its position in 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 acquiring an additional 431 shares in the last quarter. National Bank of Canada FI boosted its holdings in Lincoln National by 1.0% in 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 acquiring an additional 468 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in Lincoln National by 0.6% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 84,712 shares of the financial services provider’s stock valued at $2,635,000 after acquiring an additional 495 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Price Performance

Shares of NYSE LNC opened at $30.46 on Friday. Lincoln National Co. has a 1-year low of $20.85 and a 1-year high of $36.46. The firm has a market capitalization of $5.18 billion, a PE ratio of 4.17, a P/E/G ratio of 0.31 and a beta of 1.81. 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’s fifty day moving average price is $30.94 and its two-hundred day moving average price is $30.69.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $2.02 EPS. On average, research analysts expect that Lincoln National Co. will post 5.71 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given 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 5.91%. Lincoln National’s dividend payout ratio is presently 24.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Bank of America decreased their price objective on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Morgan Stanley dropped their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Barclays initiated coverage on Lincoln National in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National has a consensus rating of “Hold” and an average target price 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.