Lincoln National Corporation (NYSE:LNC) Shares Purchased by Algebris UK Ltd

Key Points

• Algebris UK Ltd has increased its stake in Lincoln National Corporation by 36.6% in Q1, holding 954,824 shares valued at approximately $31.74 million.
• Several institutional investors, including GSA Capital Partners and Mackenzie Financial Corp, also significantly increased their stakes in Lincoln National during the same quarter.
• Lincoln National announced a quarterly dividend of $0.45 per share set to be paid on August 1st, indicating a robust return for shareholders with an annual yield of 5.13%.

Algebris UK Ltd grew its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 36.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 954,824 shares of the financial services provider's stock after buying an additional 256,032 shares during the quarter. Lincoln National comprises 5.8% of Algebris UK Ltd's investment portfolio, making the stock its 5th biggest holding. Algebris UK Ltd owned 0.56% of Lincoln National worth $31,742,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LNC. Hollencrest Capital Management increased its stake in shares of Lincoln National by 383.2% during the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 594 shares during the last quarter. NBC Securities Inc. purchased a new position in Lincoln National in the 1st quarter valued at about $33,000. Kapitalo Investimentos Ltda purchased a new position in Lincoln National in the 4th quarter valued at about $32,000. Headlands Technologies LLC purchased a new position in Lincoln National in the 4th quarter valued at about $35,000. Finally, Aster Capital Management DIFC Ltd boosted its position in Lincoln National by 182.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock valued at $40,000 after buying an additional 807 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on LNC. Keefe, Bruyette & Woods upped their price objective on shares of Lincoln National from $39.00 to $40.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. raised their price objective on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Wall Street Zen lowered shares of Lincoln National from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. 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, Morgan Stanley raised their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Two equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $38.78.

Lincoln National Stock Performance

NYSE LNC traded down $1.34 during trading hours on Friday, hitting $36.77. The company had a trading volume of 2,199,433 shares, compared to its average volume of 1,963,953. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $39.85. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $33.88 and a 200-day simple moving average of $34.24. The firm has a market cap of $6.28 billion, a P/E ratio of 5.23, a price-to-earnings-growth ratio of 0.49 and a beta of 1.39.

Lincoln National (NYSE:LNC - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.37. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $1.87 earnings per share. Equities analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.80 annualized dividend and a yield of 4.9%. Lincoln National's dividend payout ratio (DPR) is currently 25.57%.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 43,622 shares of the company's 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of the company'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 value of $333,482.50. Following the completion of the sale, the executive vice president owned 48,743 shares of the company's stock, valued at $1,613,393.30. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by company 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.