Lincoln National Corporation (NYSE:LNC) Shares Purchased by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP increased its stake in Lincoln National Corporation by 43.2%, owning a total of 22,221 shares valued at approximately $798,000 after acquiring an additional 6,702 shares.
• Insider selling was notable, with two executives selling a combined total of 58,697 shares in the last quarter, resulting in significant decreases in their ownership stakes.
• Lincoln National recently reported $2.36 earnings per share, exceeding analyst expectations of $1.91, while also declaring a quarterly dividend of $0.45 per share.

Aigen Investment Management LP increased its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 43.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,221 shares of the financial services provider's stock after acquiring an additional 6,702 shares during the quarter. Aigen Investment Management LP's holdings in Lincoln National were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LNC. JPMorgan Chase & Co. increased its stake in Lincoln National by 14.4% during the 4th quarter. JPMorgan Chase & Co. now owns 330,755 shares of the financial services provider's stock valued at $10,488,000 after purchasing an additional 41,533 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Lincoln National during the 4th quarter valued at about $8,155,000. Treasurer of the State of North Carolina increased its stake in Lincoln National by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 74,806 shares of the financial services provider's stock valued at $2,372,000 after purchasing an additional 470 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Lincoln National by 88.7% during the 4th quarter. Sterling Capital Management LLC now owns 31,232 shares of the financial services provider's stock valued at $990,000 after acquiring an additional 14,683 shares during the last quarter. Finally, Mariner LLC boosted its holdings in shares of Lincoln National by 2.0% during the 4th quarter. Mariner LLC now owns 28,934 shares of the financial services provider's stock valued at $917,000 after acquiring an additional 581 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LNC has been the topic of a number of recent analyst reports. 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 report on Tuesday, July 8th. Wells Fargo & Company reissued a "positive" rating on shares of Lincoln National in a report on Tuesday, August 5th. Barclays raised their price objective on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Finally, Cfra Research raised shares of Lincoln National to a "hold" rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Lincoln National currently has an average rating of "Hold" and an average price target of $39.22.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the transaction, the executive vice president directly owned 123,815 shares of the company's stock, valued at $4,864,691.35. This trade represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total transaction of $333,482.50. Following the transaction, the executive vice president directly owned 48,743 shares of the company's stock, valued at $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,697 shares of company stock worth $1,959,862. 0.51% of the stock is owned by corporate insiders.

Lincoln National Price Performance

NYSE:LNC traded down $0.46 during trading hours on Friday, hitting $40.52. 1,620,939 shares of the stock traded hands, compared to its average volume of 2,285,030. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.67. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $41.09. The company has a market cap of $7.68 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 0.57 and a beta of 1.42. The stock has a 50 day moving average price of $35.22 and a 200 day moving average price of $34.69.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.45. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.65 billion. During the same quarter in the previous year, the business posted $1.87 earnings per share. Sell-side analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a $0.45 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.4%. Lincoln National's payout ratio is currently 31.41%.

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.