Connor Clark & Lunn Investment Management Ltd. Makes New $377,000 Investment in Lincoln National Corporation $LNC

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired a new stake in Lincoln National Corporation, purchasing 10,489 shares valued at approximately $377,000.
• Recent analyst ratings have set a target price range for Lincoln National between $40.00 and $41.00, indicating a consensus rating of Hold.
• Lincoln National recently declared a quarterly dividend of $0.45 per share, reflecting a 4.4% dividend yield and a payout ratio of 31.41%.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Lincoln National Corporation (NYSE:LNC - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 10,489 shares of the financial services provider's stock, valued at approximately $377,000.

A number of other institutional investors have also made changes to their positions in LNC. Raymond James Financial Inc. bought a new stake in shares of Lincoln National in the 4th quarter valued at approximately $8,155,000. Mariner LLC boosted its position in Lincoln National by 2.0% during the 4th quarter. Mariner LLC now owns 28,934 shares of the financial services provider's stock valued at $917,000 after purchasing an additional 581 shares during the period. Guggenheim Capital LLC boosted its position in Lincoln National by 33.5% during the 4th quarter. Guggenheim Capital LLC now owns 14,356 shares of the financial services provider's stock valued at $455,000 after purchasing an additional 3,606 shares during the period. NewEdge Advisors LLC boosted its position in Lincoln National by 11.4% during the 4th quarter. NewEdge Advisors LLC now owns 44,820 shares of the financial services provider's stock valued at $1,421,000 after purchasing an additional 4,578 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Lincoln National during the 4th quarter valued at approximately $6,202,000. 72.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LNC has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. National Bankshares set a $41.00 price objective on Lincoln National in a research report on Monday, August 18th. Wells Fargo & Company restated a "positive" rating on shares of Lincoln National in a research report on Tuesday, August 5th. Piper Sandler reduced 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. Finally, Barclays boosted 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. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Lincoln National has an average rating of "Hold" and a consensus target price of $39.70.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the sale, the executive vice president owned 123,815 shares of the company's stock, valued at approximately $4,864,691.35. The trade was a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $333,482.50. Following the completion of the sale, the executive vice president directly owned 48,743 shares in the company, valued at $1,613,393.30. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,697 shares of company stock valued at $1,959,862. Corporate insiders own 0.51% of the company's stock.

Lincoln National Stock Performance

LNC stock traded up $1.2640 during trading on Friday, reaching $41.9140. 1,868,723 shares of the company's stock were exchanged, compared to its average volume of 2,244,095. The company has a quick ratio of 0.26, a current ratio of 0.26 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 $42.36. The company's fifty day moving average price is $35.99 and its 200-day moving average price is $34.90. The firm has a market cap of $7.95 billion, a PE ratio of 7.31, a P/E/G ratio of 0.56 and a beta of 1.42.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm posted $1.87 EPS. On average, research analysts expect that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid 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, October 10th. Lincoln National's payout ratio is currently 31.41%.

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.