Bank of New York Mellon Corp Purchases Shares of 1,785,335 Lincoln National Corporation $LNC

Bank of New York Mellon Corp acquired a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,785,335 shares of the financial services provider's stock, valued at approximately $63,112,000. Bank of New York Mellon Corp owned approximately 0.93% of Lincoln National at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LNC. Bain Capital Prairie LLC bought a new position in Lincoln National during the fourth quarter valued at $835,360,000. Norges Bank bought a new stake in shares of Lincoln National in the 4th quarter worth about $101,114,000. Dimensional Fund Advisors LP increased its holdings in shares of Lincoln National by 24.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider's stock worth $275,304,000 after buying an additional 1,522,179 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Lincoln National by 58.7% in the 4th quarter. Jennison Associates LLC now owns 3,681,158 shares of the financial services provider's stock valued at $163,922,000 after acquiring an additional 1,361,835 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Lincoln National in the third quarter worth about $29,831,000. 72.81% of the stock is currently owned by institutional investors.

Insider Activity at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the business's stock in a transaction on 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 owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean Woodroffe sold 11,000 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $45.28, for a total transaction of $498,080.00. Following the transaction, the executive vice president owned 119,947 shares of the company's stock, valued at $5,431,200.16. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 56,007 shares of company stock valued at $1,929,266. 1.03% of the stock is owned by company insiders.

Lincoln National Stock Performance

Shares of LNC opened at $43.31 on Thursday. Lincoln National Corporation has a 12 month low of $32.18 and a 12 month high of $47.67. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62. The firm has a market cap of $8.29 billion, a PE ratio of 3.75, a P/E/G ratio of 1.52 and a beta of 1.15. The stock has a fifty day moving average price of $41.45 and a 200-day moving average price of $37.88.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.28. Lincoln National had a return on equity of 17.35% and a net margin of 12.21%.The company had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $2.36 EPS. The firm's revenue was up 12.3% compared to the same quarter last year. Equities research analysts predict that Lincoln National Corporation will post 7.91 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, October 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. Lincoln National's dividend payout ratio (DPR) is 15.60%.

Wall Street Analyst Weigh In

LNC has been the topic of several analyst reports. TD Cowen boosted 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. Morgan Stanley lifted their price objective on shares of Lincoln National from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday. Wells Fargo & Company increased their target price on shares of Lincoln National from $44.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Lincoln National from a "hold (c)" rating to a "buy (b)" rating in a report on Monday, August 3rd. Finally, Mizuho upped their price target on shares of Lincoln National from $51.00 to $53.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $47.07.

Lincoln National 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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