Assenagon Asset Management S.A. Boosts Holdings in Lincoln National Co. (NYSE:LNC)

Assenagon Asset Management S.A. boosted its holdings in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 167.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 600,212 shares of the financial services provider's stock after purchasing an additional 375,989 shares during the period. Assenagon Asset Management S.A. owned about 0.35% of Lincoln National worth $18,913,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in Lincoln National during the 1st quarter worth approximately $25,000. Whittier Trust Co. grew its stake in shares of Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider's stock worth $26,000 after buying an additional 431 shares during the last quarter. Adirondack Trust Co. bought a new position in Lincoln National in the second quarter valued at about $31,000. Blue Trust Inc. boosted its stake in shares of Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 905 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Lincoln National by 249.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider's stock worth $39,000 after purchasing an additional 873 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Stock Down 2.3 %

Shares of NYSE LNC traded down $0.75 during midday trading on Friday, hitting $32.02. 1,328,258 shares of the stock traded hands, compared to its average volume of 1,640,440. Lincoln National Co. has a one year low of $20.85 and a one year high of $36.46. The business has a 50 day moving average price of $31.45 and a two-hundred day moving average price of $30.95. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $5.45 billion, a PE ratio of 3.38, a P/E/G ratio of 0.32 and a beta of 1.81.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the business posted $2.02 EPS. On average, equities analysts predict that Lincoln National Co. will post 5.73 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.45 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.80 annualized dividend and a yield of 5.62%. Lincoln National's payout ratio is 18.99%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LNC shares. TD Cowen started coverage on shares of Lincoln National in a research report on Wednesday, October 9th. They set a "hold" rating and a $34.00 target price on the stock. StockNews.com cut shares of Lincoln National from a "hold" rating to a "sell" rating in a research note on Saturday, October 19th. Morgan Stanley cut their price objective on Lincoln National from $30.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Monday, August 19th. Piper Sandler decreased their price objective on shares of Lincoln National from $37.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. upped their target price on Lincoln National from $28.00 to $34.00 and gave the company an "underweight" rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $33.00.

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.