Lincoln National Corporation (NYSE:LNC) Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH significantly increased its holdings in Lincoln National Corporation by 442.7% during the first quarter, bringing its total ownership to $1.46 million in shares.
• A series of institutional investors have also expanded their positions in the company, with 72.81% of the stock currently owned by such investors.
• Lincoln National recently reported earnings of $2.36 per share, exceeding analysts' expectations, but had a revenue of $4.04 billion, below forecasts.

Allianz Asset Management GmbH raised its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 442.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,554 shares of the financial services provider's stock after acquiring an additional 33,082 shares during the quarter. Allianz Asset Management GmbH's holdings in Lincoln National were worth $1,456,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in LNC. Norges Bank purchased a new position in shares of Lincoln National in the fourth quarter valued at $76,951,000. Balyasny Asset Management L.P. lifted its holdings in shares of Lincoln National by 301.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock valued at $48,269,000 after purchasing an additional 1,142,759 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Lincoln National by 1,818.4% in the first quarter. SG Americas Securities LLC now owns 661,972 shares of the financial services provider's stock valued at $23,771,000 after purchasing an additional 627,466 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Lincoln National by 53.1% during the 4th quarter. First Trust Advisors LP now owns 1,258,512 shares of the financial services provider's stock worth $39,907,000 after purchasing an additional 436,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Lincoln National by 141.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 673,095 shares of the financial services provider's stock worth $24,171,000 after purchasing an additional 394,028 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 43,622 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total transaction of $1,429,929.16. Following the sale, the executive vice president directly owned 154,102 shares in the company, valued at approximately $5,051,463.56. This trade represents a 22.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the executive vice president owned 48,743 shares of the company's stock, valued at approximately $1,613,393.30. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

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 company an "equal weight" rating in a research report on Friday, May 9th. 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 note on Wednesday, July 9th. Wells Fargo & Company lifted their target price on shares of Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. increased their price target on Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler lowered their price objective on Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat, Lincoln National presently has a consensus rating of "Hold" and an average price target of $38.78.

Lincoln National Trading Down 3.3%

Shares of Lincoln National stock traded down $1.26 during trading hours on Friday, reaching $36.85. The stock had a trading volume of 3,149,918 shares, compared to its average volume of 2,065,928. The company has a current ratio of 0.26, a quick ratio of 0.25 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 $39.85. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 6.43, a P/E/G ratio of 0.53 and a beta of 1.42. The firm has a 50 day simple moving average of $33.97 and a two-hundred day simple moving average of $34.29.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period in the previous year, the company posted $1.87 earnings per share. As a group, equities research analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

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

About Lincoln National

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.