PARK CIRCLE Co Purchases New Stake in Lincoln National Corporation (NYSE:LNC)

Key Points

• PARK CIRCLE Co acquired 14,360 shares of Lincoln National Corporation, valued at approximately $516,000, according to a recent SEC filing.
• Lincoln National reported earnings of $2.36 per share, exceeding analysts' expectations of $1.91, with a revenue of $4.04 billion for the quarter.
• The company announced a quarterly dividend of $0.45 per share, resulting in a yield of 4.6%, with a payout ratio of 31.41%.

PARK CIRCLE Co bought a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,360 shares of the financial services provider's stock, valued at approximately $516,000.

Several other institutional investors have also recently made changes to their positions in the business. Hollencrest Capital Management grew its position in Lincoln National by 383.2% during the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock worth $27,000 after purchasing an additional 594 shares during the period. NBC Securities Inc. purchased a new stake in shares of Lincoln National in the first quarter worth about $33,000. Kapitalo Investimentos Ltda acquired a new stake in Lincoln National during the fourth quarter worth about $32,000. Headlands Technologies LLC purchased a new position in Lincoln National during the fourth quarter valued at approximately $35,000. Finally, Aster Capital Management DIFC Ltd raised its position in Lincoln National by 182.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Wall Street Analysts Forecast Growth

LNC has been the topic of several recent research reports. Barclays upped their price objective on Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Wall Street Zen raised shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Morgan Stanley upped their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a research note on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.22.

Lincoln National Price Performance

NYSE LNC traded down $0.09 on Friday, hitting $38.17. The company had a trading volume of 2,578,951 shares, compared to its average volume of 2,262,816. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. The company's fifty day moving average price is $34.52 and its 200-day moving average price is $34.47. The company has a market capitalization of $7.24 billion, a PE ratio of 6.66, a PEG ratio of 0.53 and a beta of 1.42. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.45. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same quarter last year, the business earned $1.87 earnings per share. As a group, analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.7%. Lincoln National's dividend payout ratio is presently 31.41%.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares in the company, valued at $4,864,691.35. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sean Woodroffe sold 43,622 shares of Lincoln National stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the completion of the sale, the executive vice president directly owned 154,102 shares in the company, valued at $5,051,463.56. This represents a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,697 shares of company stock valued at $1,959,862 over the last quarter. 0.51% of the stock is currently owned by insiders.

Lincoln National 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.