Wilmington Savings Fund Society FSB Buys New Shares in Lincoln National Co. (NYSE:LNC)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 16,992 shares of the financial services provider's stock, valued at approximately $535,000.

A number of other hedge funds also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new position in shares of Lincoln National during the second quarter worth approximately $142,148,000. Principal Financial Group Inc. boosted its holdings in Lincoln National by 59.2% during the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider's stock valued at $95,985,000 after acquiring an additional 1,147,896 shares during the period. International Assets Investment Management LLC increased its stake in Lincoln National by 3,488.2% in the 3rd quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider's stock worth $30,669,000 after purchasing an additional 939,447 shares during the period. AQR Capital Management LLC boosted its stake in shares of Lincoln National by 49.5% during the second quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider's stock valued at $66,892,000 after purchasing an additional 711,951 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Lincoln National by 167.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 600,212 shares of the financial services provider's stock valued at $18,913,000 after buying an additional 375,989 shares during the period. 72.81% of the stock is owned by institutional investors.

Lincoln National Stock Down 1.8 %

LNC stock traded down $0.59 during midday trading on Tuesday, hitting $32.46. The company's stock had a trading volume of 956,620 shares, compared to its average volume of 1,595,739. The company has a market cap of $5.53 billion, a PE ratio of 23.27, a P/E/G ratio of 0.29 and a beta of 1.77. The firm's 50-day moving average is $33.97 and its 200-day moving average is $32.26. Lincoln National Co. has a 12 month low of $25.09 and a 12 month high of $36.98. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping the consensus estimate of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. Lincoln National's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. On average, equities research analysts forecast that Lincoln National Co. will post 6.62 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.55%. Lincoln National's dividend payout ratio (DPR) is 128.57%.

Analyst Ratings Changes

A number of equities analysts recently commented on LNC shares. TD Cowen upped their target price on Lincoln National from $34.00 to $37.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Wells Fargo & Company increased their target price on Lincoln National from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. StockNews.com upgraded Lincoln National from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Piper Sandler decreased their price target 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. Finally, Barclays lifted their price target on shares of Lincoln National from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $33.25.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was 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 directly owns 99,644 shares in the company, valued at $3,587,184. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by 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.