Hennessy Advisors Inc. Buys Shares of 1,708,900 Lincoln National Co. (NYSE:LNC)

Hennessy Advisors Inc. acquired a new position in Lincoln National Co. (NYSE:LNC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,708,900 shares of the financial services provider's stock, valued at approximately $54,189,000. Lincoln National accounts for 1.6% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 16th largest position. Hennessy Advisors Inc. owned about 1.00% of Lincoln National at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of Lincoln National by 535.5% during the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider's stock valued at $33,000 after buying an additional 905 shares in the last quarter. Larson Financial Group LLC raised its stake in Lincoln National by 95.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider's stock worth $34,000 after acquiring an additional 530 shares during the period. Eastern Bank purchased a new position in Lincoln National during the third quarter valued at approximately $40,000. Meeder Asset Management Inc. bought a new position in shares of Lincoln National in the third quarter worth approximately $48,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Lincoln National by 459.9% in the third quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider's stock worth $66,000 after purchasing an additional 1,711 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Trading Up 1.4 %

NYSE:LNC traded up $0.45 during midday trading on Friday, hitting $33.14. 1,263,134 shares of the company traded hands, compared to its average volume of 1,144,820. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The firm's fifty day moving average is $33.22 and its 200-day moving average is $32.24. The firm has a market capitalization of $5.64 billion, a P/E ratio of 23.67, a P/E/G ratio of 0.23 and a beta of 1.78. Lincoln National Co. has a 12-month low of $25.09 and a 12-month high of $36.98.

Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.42. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business's revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. On average, sell-side analysts predict that Lincoln National Co. will post 6.98 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Friday, January 10th. Lincoln National's dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

Several equities analysts have recently commented on LNC shares. TD Cowen boosted their price objective on Lincoln National from $34.00 to $37.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. StockNews.com raised Lincoln National from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Wells Fargo & Company cut their price objective on shares of Lincoln National from $29.00 to $28.00 and set an "equal weight" rating for the company in a report on Tuesday. Barclays lowered their target price on shares of Lincoln National from $38.00 to $36.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. Finally, Piper Sandler cut their target price on shares of Lincoln National from $37.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Lincoln National currently has a consensus rating of "Hold" and an average price target of $33.40.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the sale, the executive vice president now owns 99,644 shares of the company's stock, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.

Lincoln National Company Profile

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.