26,463 Lincoln National Corporation $LNC Shares Bought by D.A. Davidson & CO.

Key Points

• D.A. Davidson increased its Lincoln National stake by 134.2% in the third quarter, adding 26,463 shares and bringing its holdings to 46,189 shares, valued at about $1.86 million.
• Institutional investors own 72.81% of Lincoln National shares. Analysts have a consensus Hold rating and an average price target of $48.67.
• Lincoln National pays a quarterly dividend of $0.45, equivalent to $1.80 annually and a yield of about 4.3% at the article’s cited share price.

D.A. Davidson & CO. increased its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 134.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,189 shares of the financial services provider's stock after purchasing an additional 26,463 shares during the period. D.A. Davidson & CO.'s holdings in Lincoln National were worth $1,860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Lincoln National by 24.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider's stock valued at $275,304,000 after buying an additional 1,522,179 shares during the last quarter. State Street Corp boosted its position in shares of Lincoln National by 3.6% during the second quarter. State Street Corp now owns 6,106,302 shares of the financial services provider's stock worth $215,858,000 after acquiring an additional 215,007 shares during the last quarter. Jennison Associates LLC grew its stake in Lincoln National by 3.9% during the first quarter. Jennison Associates LLC now owns 3,823,152 shares of the financial services provider's stock valued at $135,722,000 after acquiring an additional 141,994 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Lincoln National during the second quarter valued at $63,112,000. Finally, Bank of America Corp DE increased its holdings in Lincoln National by 11.5% in the 2nd quarter. Bank of America Corp DE now owns 1,592,814 shares of the financial services provider's stock valued at $56,306,000 after acquiring an additional 163,969 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on LNC. Barclays boosted their price target on shares of Lincoln National from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 7th. Keefe, Bruyette & Woods cut their price objective on Lincoln National from $51.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, October 9th. Wells Fargo & Company lifted their target price on Lincoln National from $52.00 to $54.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Jefferies Financial Group boosted their target price on Lincoln National from $56.00 to $57.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, TD Cowen increased their price target on Lincoln National from $37.00 to $42.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $48.67.

Lincoln National Price Performance

Lincoln National stock opened at $42.24 on Wednesday. The company has a market cap of $8.09 billion, a price-to-earnings ratio of 3.66, a PEG ratio of 1.40 and a beta of 1.16. The firm's fifty day moving average is $41.69 and its 200 day moving average is $39.03. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $47.67.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Investors of record on Monday, October 12th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Lincoln National's dividend payout ratio (DPR) is presently 15.60%.

Insider Transactions at Lincoln National

In other Lincoln National news, Director Gary C. Kelly sold 15,007 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total transaction of $397,685.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sean Woodroffe sold 11,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $45.28, for a total value of $498,080.00. Following the sale, the executive vice president owned 119,947 shares in the company, valued at approximately $5,431,200.16. This trade represents a 8.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.03% of the stock is currently owned by company insiders.

Lincoln National Profile

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement products primarily in the United States. Its businesses are designed to help individuals, employers and institutions manage financial protection, income and long-term savings needs.

The company offers life insurance and annuities, including products intended to provide death-benefit protection, retirement income and asset accumulation. Through its group protection business, Lincoln also provides employer-sponsored disability, dental, vision and leave-management solutions, as well as related workplace benefits and services.

Lincoln traces its history to the founding of The Lincoln National Life Insurance Company in Fort Wayne, Indiana, in 1905.

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