Dynamic Technology Lab Private Ltd Acquires New Shares in Lincoln National Corporation $LNC

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new stake in Lincoln National Corporation, purchasing 23,250 shares valued at approximately $835,000 in the first quarter.
• Analysts are optimistic about Lincoln National, with target price increases from several firms, including Morgan Stanley raising its target from $38 to $41.
• Lincoln National has declared a quarterly dividend of $0.45 per share, with a yield of 4.3%, which will be payable on November 3rd to shareholders of record on October 10th.

Dynamic Technology Lab Private Ltd bought a new position in Lincoln National Corporation (NYSE:LNC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 23,250 shares of the financial services provider's stock, valued at approximately $835,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LNC. AQR Capital Management LLC raised its holdings in shares of Lincoln National by 84.5% during the first quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider's stock valued at $72,039,000 after acquiring an additional 935,225 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Lincoln National by 206.6% during the first quarter. Millennium Management LLC now owns 1,176,613 shares of the financial services provider's stock valued at $42,252,000 after acquiring an additional 792,907 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Lincoln National by 1,818.4% during the first quarter. SG Americas Securities LLC now owns 661,972 shares of the financial services provider's stock valued at $23,771,000 after acquiring an additional 627,466 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Lincoln National by 141.2% during the first quarter. Assenagon Asset Management S.A. now owns 673,095 shares of the financial services provider's stock valued at $24,171,000 after acquiring an additional 394,028 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Lincoln National during the first quarter valued at approximately $12,645,000. Institutional investors own 72.81% of the company's stock.

Lincoln National Stock Up 0.0%

Shares of NYSE:LNC traded up $0.01 on Friday, hitting $42.16. 1,399,610 shares of the company traded hands, compared to its average volume of 1,945,218. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $43.66. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.67. The stock has a 50 day simple moving average of $38.42 and a 200-day simple moving average of $35.33. The company has a market cap of $7.99 billion, a PE ratio of 7.36, a PEG ratio of 0.56 and a beta of 1.48.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the company earned $1.87 earnings per share. As a group, research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Lincoln National's dividend payout ratio (DPR) is presently 31.41%.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the completion of the transaction, the executive vice president directly owned 123,815 shares in the company, valued at $4,864,691.35. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is owned by insiders.

Analyst Ratings Changes

LNC has been the subject of a number of recent analyst reports. Wells Fargo & Company restated a "positive" rating on shares of Lincoln National in a report on Tuesday, August 5th. Morgan Stanley increased their price objective on Lincoln National from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Keefe, Bruyette & Woods increased their price objective on Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. National Bankshares set a $41.00 price objective on Lincoln National in a report on Monday, August 18th. Finally, Cfra Research upgraded Lincoln National to a "hold" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has 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 $39.70.

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.