Bank of America Corp DE Has $50.72 Million Position in Lincoln National Corporation $LNC

Key Points

• Bank of America increased its Lincoln National stake by 4.7% in the first quarter, holding 1.43 million shares worth approximately $50.7 million. Institutional investors collectively own 72.81% of the company.
• Analyst sentiment remains mixed, with seven Buy, six Hold, and two Sell ratings; the stock has an average “Hold” rating and a consensus price target of $46.43.
• Lincoln National reported quarterly EPS of $2.24, exceeding estimates of $1.96, while revenue rose 12.3% year over year to $4.93 billion. The company also announced a quarterly dividend of $0.45 per share, implying a 4.0% annualized yield.

Bank of America Corp DE increased its position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,428,845 shares of the financial services provider's stock after acquiring an additional 64,403 shares during the quarter. Bank of America Corp DE owned about 0.75% of Lincoln National worth $50,724,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LNC. JPL Wealth Management LLC bought a new position in Lincoln National during the third quarter worth about $29,000. V Square Quantitative Management LLC acquired a new position in Lincoln National in the fourth quarter valued at about $31,000. Transamerica Financial Advisors LLC bought a new stake in shares of Lincoln National in the fourth quarter worth about $32,000. NBT Bank N A NY increased its holdings in shares of Lincoln National by 2,051.1% in the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider's stock worth $34,000 after acquiring an additional 923 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Lincoln National during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 72.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Lincoln National from $40.00 to $42.00 and gave the company an "underweight" rating in a report on Tuesday, July 21st. Keefe, Bruyette & Woods increased their target price on Lincoln National from $46.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Morgan Stanley dropped their target price on shares of Lincoln National from $43.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Barclays upgraded shares of Lincoln National from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $42.00 to $45.00 in a report on Monday, July 6th. Finally, National Bank Financial set a $51.00 price objective on shares of Lincoln National in a research report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $46.43.

Insider Transactions at Lincoln National

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

Lincoln National Trading Down 2.5%

NYSE LNC opened at $44.53 on Wednesday. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 3.86, a PEG ratio of 1.65 and a beta of 1.14. The stock's 50 day moving average price is $39.75 and its two-hundred day moving average price is $37.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Corporation has a 52 week low of $32.18 and a 52 week high of $47.67.

Lincoln National (NYSE:LNC - Get Free Report) last announced its earnings results on Thursday, July 30th. The financial services provider reported $2.24 EPS for the quarter, topping the consensus estimate of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The business had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the prior year, the company posted $2.36 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. As a group, analysts anticipate that Lincoln National Corporation will post 7.82 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.0%. Lincoln National's payout ratio is currently 15.60%.

About Lincoln National

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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