Allianz Asset Management GmbH Buys 33,082 Shares of Lincoln National Corporation (NYSE:LNC)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management lifted its position in shares of Lincoln National by 383.2% in the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock worth $27,000 after purchasing an additional 594 shares during the period. NBC Securities Inc. purchased a new position in Lincoln National during the 1st quarter valued at about $33,000. Kapitalo Investimentos Ltda purchased a new position in Lincoln National during the 4th quarter valued at about $32,000. Headlands Technologies LLC purchased a new position in Lincoln National during the 4th quarter valued at about $35,000. Finally, Aster Capital Management DIFC Ltd lifted its position in Lincoln National by 182.2% during 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 acquiring an additional 807 shares during the period. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Stock Performance

NYSE LNC traded up $0.56 during trading hours on Tuesday, hitting $38.48. 1,388,283 shares of the company's stock traded hands, compared to its average volume of 1,970,438. The business's fifty day moving average price is $34.08 and its two-hundred day moving average price is $34.33. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $7.30 billion, a P/E ratio of 6.72, a P/E/G ratio of 0.52 and a beta of 1.42. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.45. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates 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 business posted $1.87 earnings per share. Equities research analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.80 annualized dividend and a yield of 4.7%. Lincoln National's payout ratio is currently 31.41%.

Insider Activity at Lincoln National

In other news, EVP Sean Woodroffe sold 43,622 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $32.78, for a total value of $1,429,929.16. Following the transaction, the executive vice president owned 154,102 shares of the company's stock, valued at approximately $5,051,463.56. The trade was a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 48,743 shares in the company, valued at $1,613,393.30. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LNC. Piper Sandler reduced their price objective on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Barclays raised their price objective on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. raised their price objective on shares of Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Morgan Stanley lifted their price target on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $39.22.

Lincoln National Company 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.