Lincoln National Corporation $LNC Shares Bought by Cim Investment Management Inc.

Cim Investment Management Inc. lifted its stake in shares of Lincoln National Corporation (NYSE:LNC) by 99.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,292 shares of the financial services provider’s stock after acquiring an additional 16,616 shares during the quarter. Cim Investment Management Inc.’s holdings in Lincoln National were worth $1,104,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Lincoln National by 0.7% during the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock valued at $214,504,000 after purchasing an additional 40,676 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Lincoln National by 1.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,916,661 shares of the financial services provider’s stock valued at $170,116,000 after buying an additional 61,873 shares in the last quarter. First Trust Advisors LP grew its holdings in Lincoln National by 20.0% during the second quarter. First Trust Advisors LP now owns 4,645,447 shares of the financial services provider’s stock worth $160,732,000 after acquiring an additional 774,721 shares during the period. Dimensional Fund Advisors LP grew its holdings in Lincoln National by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider’s stock worth $110,753,000 after acquiring an additional 208,114 shares during the period. Finally, LSV Asset Management raised its position in Lincoln National by 16.9% in the second quarter. LSV Asset Management now owns 2,736,180 shares of the financial services provider’s stock worth $94,672,000 after acquiring an additional 394,584 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Insider Buying and Selling

In related news, Director Owen Ryan purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired at an average cost of $42.17 per share, for a total transaction of $84,340.00. Following the completion of the acquisition, the director owned 12,000 shares in the company, valued at $506,040. This trade represents a 20.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Christopher Kennedy sold 3,519 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total transaction of $155,363.85. Following the transaction, the executive vice president directly owned 118,985 shares in the company, valued at $5,253,187.75. The trade was a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is owned by corporate insiders.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $45.04 on Friday. The company’s fifty day moving average is $40.78 and its two-hundred day moving average is $38.54. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.61. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $46.61. The company has a market cap of $8.55 billion, a P/E ratio of 4.04, a price-to-earnings-growth ratio of 0.45 and a beta of 1.33.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, October 30th. The financial services provider reported $2.04 EPS for the quarter, topping the consensus estimate of $1.84 by $0.20. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Lincoln National had a return on equity of 18.77% and a net margin of 11.49%.During the same quarter last year, the firm posted $2.06 earnings per share. Equities analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be issued a $0.45 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.0%. Lincoln National’s dividend payout ratio is currently 16.16%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LNC. Piper Sandler reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Lincoln National in a research note on Tuesday, October 7th. Morgan Stanley decreased their price target on shares of Lincoln National from $58.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Evercore ISI increased their price objective on Lincoln National from $45.00 to $46.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Barclays lifted their target price on Lincoln National from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Finally, National Bankshares set a $44.00 target price on Lincoln National in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $43.40.

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.