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

Several other institutional investors have also made changes to their positions in LNC. AQR Capital Management LLC boosted its stake in shares of Lincoln National by 84.5% in 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 buying an additional 935,225 shares during the period. Millennium Management LLC boosted its stake in shares of Lincoln National by 206.6% in 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 buying an additional 792,907 shares during the period. SG Americas Securities LLC boosted its stake in shares of Lincoln National by 1,818.4% in 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 buying an additional 627,466 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Lincoln National by 141.2% in 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 buying an additional 394,028 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Lincoln National in the first quarter valued at approximately $12,645,000. 72.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LNC. National Bankshares set a $41.00 price target on Lincoln National in a research note on Monday, August 18th. Morgan Stanley boosted their price objective on shares of Lincoln National from $38.00 to $41.00 and gave the company an "equal weight" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. boosted their price objective on shares of Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company restated a "positive" rating on shares of Lincoln National in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $39.70.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 5,000 shares of the 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 completion of the sale, the executive vice president directly owned 123,815 shares in the company, valued at $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

Lincoln National Price Performance

Shares of NYSE:LNC traded up $0.01 during trading on Friday, hitting $42.16. 1,399,610 shares of the company were exchanged, compared to its average volume of 1,567,426. The business's 50 day moving average is $38.57 and its 200-day moving average is $35.33. The company has a market capitalization of $7.99 billion, a P/E ratio of 7.36, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. 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 $43.66.

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 the consensus estimate of $1.91 by $0.45. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period in the prior year, the business earned $1.87 earnings per share. Equities analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, October 10th. Lincoln National's dividend payout ratio is presently 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.