Allspring Global Investments Holdings LLC Acquires 96,843 Shares of Lincoln National Co. (NYSE:LNC)

Allspring Global Investments Holdings LLC lifted its stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 4,737.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,887 shares of the financial services provider's stock after acquiring an additional 96,843 shares during the period. Allspring Global Investments Holdings LLC owned 0.06% of Lincoln National worth $3,116,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its position in shares of Lincoln National by 33.0% during the first quarter. First Eagle Investment Management LLC now owns 387,800 shares of the financial services provider's stock worth $12,382,000 after acquiring an additional 96,200 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Lincoln National by 0.8% during the first quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider's stock worth $697,825,000 after buying an additional 166,167 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of Lincoln National during the second quarter worth approximately $1,095,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lincoln National in the first quarter worth $505,000. Finally, SG Americas Securities LLC bought a new position in Lincoln National during the 2nd quarter valued at $673,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Stock Performance

Shares of LNC stock traded up $0.59 during trading hours on Wednesday, reaching $33.36. 173,428 shares of the company's stock were exchanged, compared to its average volume of 1,630,702. The business has a fifty day moving average price of $31.52 and a 200-day moving average price of $31.01. The stock has a market capitalization of $5.67 billion, a P/E ratio of 4.48, a P/E/G ratio of 0.32 and a beta of 1.81. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. Lincoln National Co. has a fifty-two week low of $20.85 and a fifty-two week high of $36.46.

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

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.45 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.40%. Lincoln National's dividend payout ratio is currently 24.62%.

Analysts Set New Price Targets

Several brokerages recently issued reports on LNC. Wells Fargo & Company raised their price target on Lincoln National from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Morgan Stanley reduced their price target on shares of Lincoln National from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price target on shares of Lincoln National from $28.00 to $34.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 2nd. TD Cowen started coverage on shares of Lincoln National in a research report on Wednesday, October 9th. They issued a "hold" rating and a $34.00 price objective on the stock. Finally, Bank of America decreased their target price on shares of Lincoln National from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average 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.