Balyasny Asset Management L.P. Buys 1,142,759 Shares of Lincoln National Co. (NYSE:LNC)

Balyasny Asset Management L.P. boosted its position in Lincoln National Co. (NYSE:LNC - Free Report) by 301.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,522,195 shares of the financial services provider's stock after buying an additional 1,142,759 shares during the period. Balyasny Asset Management L.P. owned approximately 0.89% of Lincoln National worth $48,269,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LNC. Principal Financial Group Inc. increased its stake in Lincoln National by 7.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider's stock valued at $104,281,000 after buying an additional 223,129 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lincoln National by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,876,319 shares of the financial services provider's stock valued at $91,208,000 after purchasing an additional 56,614 shares during the period. Norges Bank purchased a new position in Lincoln National during the fourth quarter valued at approximately $76,951,000. Hennessy Advisors Inc. bought a new position in shares of Lincoln National in the fourth quarter worth $54,189,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Lincoln National by 84.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider's stock valued at $48,948,000 after buying an additional 708,584 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Stock Performance

Shares of NYSE LNC traded down $0.03 during mid-day trading on Friday, hitting $33.34. The company had a trading volume of 1,465,708 shares, compared to its average volume of 1,631,370. The firm has a market cap of $5.69 billion, a P/E ratio of 1.81, a PEG ratio of 0.30 and a beta of 1.42. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.27 and a quick ratio of 0.27. The business's 50-day simple moving average is $33.39 and its 200-day simple moving average is $34.02. Lincoln National Co. has a 12 month low of $27.58 and a 12 month high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.71 billion. Lincoln National had a return on equity of 18.47% and a net margin of 17.76%. The business's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. As a group, analysts predict that Lincoln National Co. will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.80 annualized dividend and a yield of 5.40%. Lincoln National's dividend payout ratio is currently 9.79%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LNC shares. Wells Fargo & Company decreased their target price on Lincoln National from $36.00 to $31.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Piper Sandler decreased their price target on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday. Morgan Stanley decreased their target price on shares of Lincoln National from $42.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Evercore ISI lifted their target price on Lincoln National from $41.00 to $44.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.27.

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.