Geode Capital Management LLC Boosts Stock Position in Lincoln National Corporation $LNC

Geode Capital Management LLC increased its stake in Lincoln National Corporation (NYSE:LNC) by 0.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,959,195 shares of the financial services provider’s stock after buying an additional 14,842 shares during the period. Geode Capital Management LLC owned 1.56% of Lincoln National worth $131,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LNC. JPL Wealth Management LLC purchased a new position in Lincoln National during the third quarter valued at $29,000. V Square Quantitative Management LLC purchased a new position in Lincoln National during the fourth quarter valued at $31,000. Laurel Wealth Advisors LLC purchased a new position in Lincoln National during the fourth quarter valued at $38,000. Larson Financial Group LLC raised its stake in Lincoln National by 61.8% during the third quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock valued at $41,000 after buying an additional 391 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Lincoln National during the third quarter valued at $48,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Up 1.6%

Lincoln National stock opened at $34.06 on Friday. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 3.95, a PEG ratio of 2.15 and a beta of 1.17. The stock has a fifty day simple moving average of $35.58 and a two-hundred day simple moving average of $38.74. Lincoln National Corporation has a 12 month low of $31.69 and a 12 month high of $46.82. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. Equities analysts predict that Lincoln National Corporation will post 7.72 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.3%. Lincoln National’s dividend payout ratio (DPR) is presently 20.88%.

Insider Activity at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 8,000 shares of Lincoln National stock in a transaction on Monday, March 9th. The stock was sold at an average price of $32.74, for a total value of $261,920.00. Following the completion of the sale, the executive vice president owned 198,159 shares of the company’s stock, valued at approximately $6,487,725.66. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

LNC has been the subject of a number of recent research reports. Mizuho lowered their price objective on Lincoln National from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. TD Cowen lowered their price objective on Lincoln National from $43.00 to $38.00 and set a “hold” rating for the company in a research note on Monday, March 9th. Bank of America lowered their price objective on Lincoln National from $41.00 to $37.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings cut Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Finally, Keefe, Bruyette & Woods lifted their price objective on Lincoln National from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.00.

Lincoln National 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.