Hsbc Holdings PLC Has $60.49 Million Position in Lincoln National Corporation $LNC

Key Points

• HSBC Holdings PLC increased its stake in Lincoln National by 10.9% in the fourth quarter, ending with 1.36 million shares valued at about $60.5 million.
• Lincoln National reported better-than-expected quarterly earnings of $1.66 per share, though revenue came in slightly below estimates; analysts currently rate the stock a consensus “Hold” with an average target price of $43.
• The company declared a quarterly dividend of $0.45 per share, implying an annualized yield of about 4.9%, while an executive recently sold 30,000 shares in a disclosed insider transaction.

Hsbc Holdings PLC boosted its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,360,587 shares of the financial services provider's stock after buying an additional 133,388 shares during the quarter. Hsbc Holdings PLC owned approximately 0.72% of Lincoln National worth $60,495,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bain Capital Prairie LLC bought a new position in shares of Lincoln National during the fourth quarter valued at $835,360,000. Dimensional Fund Advisors LP grew its stake in shares of Lincoln National by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,233,327 shares of the financial services provider's stock worth $277,574,000 after purchasing an additional 502,600 shares during the last quarter. State Street Corp increased its holdings in Lincoln National by 0.7% in the second quarter. State Street Corp now owns 6,199,526 shares of the financial services provider's stock valued at $214,504,000 after purchasing an additional 40,676 shares during the period. First Trust Advisors LP increased its holdings in Lincoln National by 5.0% in the third quarter. First Trust Advisors LP now owns 4,879,862 shares of the financial services provider's stock valued at $196,805,000 after purchasing an additional 234,415 shares during the period. Finally, Jennison Associates LLC raised its position in Lincoln National by 58.7% during the 4th quarter. Jennison Associates LLC now owns 3,681,158 shares of the financial services provider's stock worth $163,922,000 after purchasing an additional 1,361,835 shares during the last quarter. 72.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on LNC. Barclays cut their target price on Lincoln National from $44.00 to $42.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Keefe, Bruyette & Woods increased their price target on Lincoln National from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Bank of America lowered their price objective on Lincoln National from $41.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Weiss Ratings lowered Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Finally, Mizuho reduced their target price on Lincoln National from $54.00 to $48.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $43.00.

Lincoln National Price Performance

LNC stock opened at $36.95 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 firm has a market cap of $7.06 billion, a price-to-earnings ratio of 4.29, a PEG ratio of 2.37 and a beta of 1.17. The company's fifty day simple moving average is $36.08 and its 200 day simple moving average is $37.96. Lincoln National Corporation has a 12-month low of $32.18 and a 12-month high of $46.82.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business's revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $1.60 EPS. On average, analysts expect that Lincoln National Corporation will post 7.73 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Friday, July 10th. Lincoln National's payout ratio is presently 20.88%.

Insiders Place Their Bets

In other Lincoln National news, EVP Craigt T. Beazer sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total value of $1,033,500.00. Following the transaction, the executive vice president directly owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.03% of the company's stock.

Lincoln National Company 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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