Massachusetts Financial Services Co. MA Purchases 1,035,505 Shares of Lincoln National Corporation $LNC

Massachusetts Financial Services Co. MA grew its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 21.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,952,166 shares of the financial services provider’s stock after buying an additional 1,035,505 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Lincoln National were worth $240,051,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LNC. Baird Financial Group Inc. bought a new stake in Lincoln National during the first quarter worth about $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Lincoln National by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock valued at $2,585,000 after purchasing an additional 16,991 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Lincoln National by 316.9% during the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock valued at $2,123,000 after purchasing an additional 44,936 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Lincoln National by 5.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock valued at $22,383,000 after purchasing an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in shares of Lincoln National by 39.1% in the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 5,486 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lincoln National

In other news, Director Owen Ryan purchased 2,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $42.17 per share, for a total transaction of $84,340.00. Following the purchase, the director directly owned 12,000 shares in the company, valued at approximately $506,040. This represents a 20.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John Christopher Kennedy sold 3,519 shares of Lincoln National stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the completion of the sale, the executive vice president directly owned 118,985 shares of the company’s stock, valued at $5,253,187.75. The trade was a 2.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is owned by corporate insiders.

Lincoln National Price Performance

LNC opened at $40.93 on Tuesday. The company’s 50-day simple moving average is $43.11 and its two-hundred day simple moving average is $40.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $7.77 billion, a P/E ratio of 3.67, a P/E/G ratio of 0.41 and a beta of 1.32. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $46.82.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.20. The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Lincoln National had a net margin of 11.49% and a return on equity of 18.77%. During the same period in the previous year, the company earned $2.06 earnings per share. As a group, analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, January 12th. This represents a $1.80 dividend on an annualized basis and a yield of 4.4%. Lincoln National’s payout ratio is currently 16.16%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LNC. Mizuho initiated coverage on Lincoln National in a research report on Tuesday, December 16th. They set an “outperform” rating and a $52.00 price objective for the company. Zacks Research cut Lincoln National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Piper Sandler raised their price target on Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln National in a research report on Monday, December 29th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Lincoln National in a research report on Monday, December 15th. Four 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 company currently has a consensus rating of “Hold” and a consensus target price of $46.25.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.