Focus Financial Network Inc. Makes New $260,000 Investment in Lincoln National Corporation $LNC

Key Points

• Focus Financial Network Inc. has acquired a new stake in Lincoln National Corporation, purchasing 7,521 shares valued at approximately $260,000.
• Lincoln National recently announced a quarterly dividend of $0.45 per share, with an annualized yield of 4.4% scheduled for payment on November 3rd.
• Analysts have mixed opinions on the stock, with ratings ranging from "strong sell" to "hold," and a consensus price target set at $39.45.

Focus Financial Network Inc. bought a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,521 shares of the financial services provider's stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LNC. AQR Capital Management LLC lifted 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 worth $72,039,000 after purchasing an additional 935,225 shares during the period. Millennium Management LLC lifted 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 worth $42,252,000 after purchasing an additional 792,907 shares during the period. SG Americas Securities LLC lifted 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 worth $23,771,000 after purchasing an additional 627,466 shares during the period. Assenagon Asset Management S.A. lifted 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 worth $24,171,000 after purchasing an additional 394,028 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Lincoln National during the first quarter worth about $12,645,000. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Price Performance

Shares of Lincoln National stock traded down $0.20 on Monday, reaching $41.07. The company's stock had a trading volume of 2,013,595 shares, compared to its average volume of 1,944,006. The company has a market capitalization of $7.79 billion, a P/E ratio of 7.17, a PEG ratio of 0.56 and a beta of 1.48. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $43.66. The stock has a 50-day moving average price of $39.28 and a 200-day moving average price of $35.49. 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 (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 (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.45. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.During the same period in the previous year, the company posted $1.87 earnings per share. Analysts expect that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. Lincoln National's payout ratio is currently 31.41%.

Wall Street Analysts Forecast Growth

LNC has been the subject of a number of research reports. National Bankshares set a $41.00 target price on Lincoln National in a report on Monday, August 18th. Cfra Research upgraded Lincoln National to a "hold" rating in a research report on Wednesday, August 6th. Wells Fargo & Company reiterated a "positive" rating on shares of Lincoln National in a research report on Tuesday, August 5th. Wall Street Zen upgraded Lincoln National from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $39.45.

Insider Activity

In other news, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction that occurred 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 directly owned 123,815 shares of the company's stock, valued at $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by corporate insiders.

About Lincoln National

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.