Jennison Associates LLC Acquires 1,361,835 Shares of Lincoln National Corporation $LNC

Key Points

• Jennison Associates boosted its stake in Lincoln National by 58.7%, acquiring 1,361,835 shares to hold 3,681,158 shares (about 1.94% of the company) worth roughly $163.9 million at quarter-end.
• Lincoln National declared a quarterly dividend of $0.45 (annualized $1.80) payable May 1 with an ex-dividend date of April 10, implying a yield of about 4.8% and a payout ratio near 33.9%.
• Analysts are mixed: the consensus rating is "Hold" with a $43.79 average price target (6 Buy, 8 Hold, 2 Sell), and several firms recently trimmed their price objectives.

Jennison Associates LLC boosted its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 58.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,681,158 shares of the financial services provider's stock after acquiring an additional 1,361,835 shares during the quarter. Jennison Associates LLC owned 1.94% of Lincoln National worth $163,922,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Lincoln National in the 4th quarter worth about $31,000. JPL Wealth Management LLC bought a new position in shares of Lincoln National during the 3rd quarter valued at about $29,000. Salomon & Ludwin LLC bought a new position in shares of Lincoln National during the 3rd quarter valued at about $32,000. Mather Group LLC. bought a new position in shares of Lincoln National during the 3rd quarter valued at about $39,000. Finally, Larson Financial Group LLC increased its position in shares of Lincoln National by 61.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 391 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LNC. Keefe, Bruyette & Woods reiterated a "moderate buy" rating and set a $43.00 price objective on shares of Lincoln National in a research report on Thursday, March 26th. Bank of America reduced their price objective on Lincoln National from $41.00 to $37.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. TD Cowen reduced their price objective on Lincoln National from $43.00 to $38.00 and set a "hold" rating on the stock in a research report on Monday, March 9th. Mizuho reduced their price objective on Lincoln National from $54.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday, April 13th. Finally, National Bank Financial set a $48.00 price objective on Lincoln National in a research report on Monday, April 13th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $43.79.

Lincoln National Price Performance

LNC opened at $37.56 on Thursday. The stock's 50 day simple moving average is $35.33 and its 200 day simple moving average is $39.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27. Lincoln National Corporation has a 1 year low of $31.61 and a 1 year high of $46.82. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 2.39 and a beta of 1.23.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.35. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.Lincoln National's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.91 EPS. As a group, analysts predict that Lincoln National Corporation will post 7.79 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, April 10th. Lincoln National's dividend payout ratio is currently 33.90%.

Insider Activity at Lincoln National

In related news, EVP James Waltman Reid sold 3,050 shares of the company's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total transaction of $127,520.50. Following the completion of the transaction, the executive vice president owned 118,567 shares in the company, valued at $4,957,286.27. This represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sean Woodroffe sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $34.46, for a total value of $344,600.00. Following the completion of the transaction, the executive vice president owned 206,159 shares of the company's stock, valued at approximately $7,104,239.14. The trade was a 4.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,050 shares of company stock worth $734,041 over the last quarter. 0.54% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Corporation (NYSE:LNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.