18,759,497 Shares in Lincoln National Corporation $LNC Purchased by Bain Capital Prairie LLC

Key Points

• Bain Capital Prairie LLC disclosed a new stake of 18,759,497 shares in Lincoln National, worth about $835.4 million, and now owns 9.88% of the company.
• Lincoln National reported Q1 earnings of $1.66 per share, topping estimates, while revenue came in slightly below expectations at $4.87 billion; analysts still expect 7.72 EPS for the full year.
• The company declared a quarterly dividend of $0.45 per share, implying an annual yield of about 4.8%; meanwhile, Wall Street’s consensus rating remains Hold with a $43 average price target.

Bain Capital Prairie LLC acquired a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,759,497 shares of the financial services provider's stock, valued at approximately $835,360,000. Lincoln National comprises 100.0% of Bain Capital Prairie LLC's investment portfolio, making the stock its largest holding. Bain Capital Prairie LLC owned 9.88% of Lincoln National at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LNC. JPL Wealth Management LLC acquired a new stake in Lincoln National during the third quarter worth about $29,000. V Square Quantitative Management LLC acquired a new stake in Lincoln National during the fourth quarter worth about $31,000. Transamerica Financial Advisors LLC acquired a new stake in Lincoln National during the fourth quarter worth about $32,000. Los Angeles Capital Management LLC acquired a new stake in shares of Lincoln National during the fourth quarter valued at about $34,000. Finally, Laurel Wealth Advisors LLC acquired a new stake in shares of Lincoln National during the fourth quarter valued at about $38,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of Lincoln National stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the transaction, the executive vice president owned 103,906 shares in the company, valued at $3,579,561.70. The trade was a 22.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.03% of the stock is owned by corporate insiders.

Lincoln National Trading Down 1.6%

NYSE LNC opened at $37.37 on Thursday. The firm has a 50 day simple moving average of $35.83 and a 200-day simple moving average of $38.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25. Lincoln National Corporation has a one year low of $31.69 and a one year high of $46.82. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 4.33, a PEG ratio of 2.44 and a beta of 1.17.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the firm posted $1.60 earnings per share. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts anticipate that Lincoln National Corporation will post 7.72 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.45 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.8%. Lincoln National's payout ratio is currently 20.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LNC. UBS Group reiterated a "neutral" rating and set a $39.00 price target on shares of Lincoln National in a research report on Thursday, May 14th. TD Cowen dropped their price target on shares of Lincoln National from $43.00 to $38.00 and set a "hold" rating for the company in a research report on Monday, March 9th. Barclays dropped their price target on shares of Lincoln National from $44.00 to $42.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 8th. Morgan Stanley dropped their price target on shares of Lincoln National from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, May 21st. Finally, Weiss Ratings cut shares of Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $43.00.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

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