Arrowstreet Capital Limited Partnership Has $24.25 Million Holdings in Lincoln National Corporation $LNC

Key Points

• Arrowstreet Capital increased its Lincoln National stake by 509% in the first quarter, acquiring 570,884 additional shares for a total holding valued at approximately $24.25 million. Institutional investors and hedge funds collectively own 72.81% of the company.
• Analyst sentiment remains mixed, with Lincoln National holding a consensus “Hold” rating and an average price target of $45.21, compared with the stock’s opening price of $41.42.
• Lincoln National reported quarterly EPS of $1.66, exceeding estimates of $1.58, while revenue rose 13.1% year over year to $4.87 billion. The company also declared a quarterly dividend of $0.45 per share, implying a 4.3% annualized yield.

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 509.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 683,040 shares of the financial services provider's stock after acquiring an additional 570,884 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.36% of Lincoln National worth $24,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Lincoln National during the fourth quarter worth $4,742,000. Wealthstar Advisors LLC bought a new stake in Lincoln National in the 1st quarter valued at $1,183,000. Oxbow Advisors LLC lifted its position in Lincoln National by 22.1% in the 4th quarter. Oxbow Advisors LLC now owns 231,208 shares of the financial services provider's stock valued at $10,296,000 after acquiring an additional 41,817 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Lincoln National by 10.9% in the 4th quarter. Hsbc Holdings PLC now owns 1,360,587 shares of the financial services provider's stock worth $60,495,000 after purchasing an additional 133,388 shares during the period. Finally, Bessemer Group Inc. boosted its stake in Lincoln National by 25.4% in the 1st quarter. Bessemer Group Inc. now owns 203,973 shares of the financial services provider's stock worth $7,241,000 after purchasing an additional 41,345 shares during the period. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the sale, the executive vice president directly owned 103,906 shares in the company, valued at approximately $3,579,561.70. This trade represents a 22.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LNC. JPMorgan Chase & Co. upped their price objective on Lincoln National from $40.00 to $42.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. TD Cowen lifted their target price on Lincoln National from $37.00 to $42.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. Mizuho boosted their target price on Lincoln National from $48.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Weiss Ratings downgraded Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a research report on Monday, May 11th. Finally, National Bank Financial set a $51.00 price target on shares of Lincoln National in a research note on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Lincoln National presently has a consensus rating of "Hold" and an average target price of $45.21.

Lincoln National Stock Down 3.3%

NYSE:LNC opened at $41.42 on Thursday. Lincoln National Corporation has a twelve month low of $32.18 and a twelve month high of $46.82. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 4.81, a price-to-earnings-growth ratio of 3.03 and a beta of 1.17. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.65. The stock's 50 day moving average price is $37.84 and its two-hundred day moving average price is $37.38.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm posted $1.60 EPS. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts expect that Lincoln National Corporation will post 7.73 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National's dividend payout ratio is presently 20.88%.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

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