Dockside LLC Takes Position in Lincoln National Corporation $LNC

Key Points

• Dockside LLC opened a new position in Lincoln National during the fourth quarter, buying 28,943 shares valued at about $1.29 million.
• Lincoln National reported better-than-expected quarterly earnings of $1.66 per share, though revenue slightly missed estimates; revenue still rose 13.1% year over year.
• The company also announced a quarterly dividend of $0.45 per share, implying an annualized yield of about 4.8%, while analysts currently rate the stock a consensus Hold.

Dockside LLC purchased a new stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,943 shares of the financial services provider's stock, valued at approximately $1,289,000.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Lincoln National by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider's stock valued at $802,717,000 after buying an additional 1,183,934 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Lincoln National in the 4th quarter valued at approximately $4,742,000. CSM Advisors LLC acquired a new position in Lincoln National in the 3rd quarter valued at approximately $13,481,000. Oxbow Advisors LLC increased its stake 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 buying an additional 41,817 shares during the period. Finally, First Trust Advisors LP increased its stake in Lincoln National by 5.0% in the 3rd quarter. First Trust Advisors LP now owns 4,879,862 shares of the financial services provider's stock valued at $196,805,000 after buying an additional 234,415 shares during the period. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Stock Performance

LNC stock opened at $37.23 on Monday. 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 company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 4.32, a P/E/G ratio of 2.39 and a beta of 1.17. Lincoln National Corporation has a 12 month low of $31.69 and a 12 month high of $46.82. The firm has a 50 day moving average of $35.67 and a two-hundred day moving average of $38.57.

Lincoln National (NYSE:LNC - Get Free Report) last posted its earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.93 billion. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. As a group, equities analysts anticipate that Lincoln National Corporation will post 7.72 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.8%. Lincoln National's dividend payout ratio is currently 20.88%.

Wall Street Analyst Weigh In

LNC has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Lincoln National from $42.00 to $40.00 and set an "underweight" rating on the stock in a research note on Thursday, May 7th. Mizuho dropped their price objective on shares of Lincoln National from $54.00 to $48.00 and set an "outperform" rating on the stock in a research note on Monday, April 13th. Barclays dropped their price objective on shares of Lincoln National from $44.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods upped their price objective on shares of Lincoln National from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Finally, National Bank Financial set a $40.00 price objective on shares of Lincoln National in a research note on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $43.00.

Insider Activity at Lincoln National

In other news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. This represents a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.03% of the company's stock.

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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