National Life Insuranc Lincoln Purchases 2,254,486 Shares of Lincoln National (NYSE:LNC) Stock

Lincoln National Corporation (NYSE:LNC) major shareholder National Life Insuranc Lincoln bought 2,254,486 shares of the stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $11.09 per share, for a total transaction of $25,002,249.74. Following the acquisition, the insider directly owned 9,784,322 shares of the company’s stock, valued at approximately $108,508,130.98. This represents a 29.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

National Life Insuranc Lincoln also recently made the following trade(s):

• On Friday, December 19th, National Life Insuranc Lincoln purchased 2,300,098 shares of Lincoln National stock. The stock was bought at an average price of $10.87 per share, for a total transaction of $25,002,065.26.

Lincoln National Stock Down 7.0%

LNC opened at $34.28 on Friday. The company has a market capitalization of $6.52 billion, a PE ratio of 6.46, a price-to-earnings-growth ratio of 1.54 and a beta of 1.30. The firm has a 50-day simple moving average of $41.63 and a two-hundred day simple moving average of $41.38. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.59. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $46.82.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.35. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the business earned $1.91 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, April 10th. Lincoln National’s dividend payout ratio is 33.90%.

Analyst Upgrades and Downgrades

LNC has been the topic of several research reports. Piper Sandler boosted their price target on shares of Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Lincoln National in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their price target on shares of Lincoln National from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. TD Cowen reiterated a “hold” rating on shares of Lincoln National in a research report on Wednesday, January 28th. Finally, Jefferies Financial Group upped their price objective on Lincoln National from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lincoln National has an average rating of “Hold” and an average target price of $46.58.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Baird Financial Group Inc. bought a new stake in shares of Lincoln National during the 1st quarter worth approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Lincoln National by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock worth $2,585,000 after purchasing an additional 16,991 shares during the period. Empowered Funds LLC lifted its position 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 worth $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 position 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 worth $22,383,000 after purchasing an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth boosted its stake in shares of Lincoln National by 39.1% during the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 5,486 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

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.