Lincoln National Co. (NYSE:LNC) Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN increased its position in shares of Lincoln National Co. (NYSE:LNC) by 4.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,415 shares of the financial services provider’s stock after acquiring an additional 325 shares during the period. OLD National Bancorp IN’s holdings in Lincoln National were worth $265,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Lincoln National during the 2nd quarter worth $142,148,000. Principal Financial Group Inc. increased its holdings in Lincoln National by 59.2% during the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after acquiring an additional 1,147,896 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Lincoln National during the first quarter worth about $28,649,000. AQR Capital Management LLC grew its position in shares of Lincoln National by 49.5% in the second quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock valued at $66,892,000 after purchasing an additional 711,951 shares during the last quarter. Finally, Algebris UK Ltd grew its position in shares of Lincoln National by 122.5% in the first quarter. Algebris UK Ltd now owns 861,259 shares of the financial services provider’s stock valued at $25,582,000 after purchasing an additional 474,171 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LNC has been the topic of a number of recent research reports. Piper Sandler reduced their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. StockNews.com lowered Lincoln National from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Bank of America cut their target price on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised 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. Finally, Barclays boosted their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $33.00.

Lincoln National Trading Down 1.3 %

Shares of LNC opened at $32.59 on Thursday. Lincoln National Co. has a twelve month low of $20.85 and a twelve month high of $36.46. The firm has a market capitalization of $5.54 billion, a P/E ratio of 4.46, a price-to-earnings-growth ratio of 0.31 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. The stock’s fifty day simple moving average is $31.33 and its 200 day simple moving average is $30.90.

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, beating the consensus estimate of $1.77 by $0.07. The business had revenue of $5.15 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $2.02 EPS. On average, equities research analysts forecast that Lincoln National Co. will post 5.73 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.52%. Lincoln National’s dividend payout ratio (DPR) is 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.