Jennison Associates LLC Purchases 141,994 Shares of Lincoln National Corporation $LNC

Key Points

• Jennison Associates increased its stake in Lincoln National by 3.9% in the first quarter, buying an additional 141,994 shares and lifting its total holding to 3.82 million shares worth about $135.7 million.
• Analyst sentiment is mixed but leaning cautious: Lincoln National has a consensus rating of Hold and an average price target of $44.79, even as several firms raised targets and one downgraded the stock.
• The company reported better-than-expected quarterly earnings of $1.66 per share and declared a quarterly dividend of $0.45 per share, equal to a 4.3% annualized yield.

Jennison Associates LLC lifted its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,823,152 shares of the financial services provider's stock after purchasing an additional 141,994 shares during the period. Jennison Associates LLC owned about 2.00% of Lincoln National worth $135,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of LNC. V Square Quantitative Management LLC purchased a new position in shares of Lincoln National in the fourth quarter valued at about $31,000. Transamerica Financial Advisors LLC bought a new stake in Lincoln National during the 4th quarter valued at approximately $32,000. JPL Wealth Management LLC purchased a new position in Lincoln National in the 3rd quarter worth approximately $29,000. Los Angeles Capital Management LLC bought a new position in Lincoln National in the 4th quarter worth approximately $34,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Lincoln National during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 72.81% of the company's stock.

Analyst Ratings Changes

LNC has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Lincoln National from $39.00 to $44.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Jefferies Financial Group raised their target price on shares of Lincoln National from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Morgan Stanley decreased their price target on shares of Lincoln National from $43.00 to $40.00 and set an "overweight" rating on the stock in a research note on Thursday, May 21st. Finally, Wells Fargo & Company increased their price objective on shares of Lincoln National from $44.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Lincoln National presently has an average rating of "Hold" and a consensus target price of $44.79.

Lincoln National Stock Performance

NYSE:LNC opened at $42.26 on Friday. The firm has a market capitalization of $8.08 billion, a PE ratio of 4.90, a PEG ratio of 2.99 and a beta of 1.17. The stock's fifty day moving average is $36.73 and its 200 day moving average is $37.63. Lincoln National Corporation has a fifty-two week low of $32.18 and a fifty-two week high of $46.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25.

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

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Lincoln National's payout ratio is currently 20.88%.

Insider Activity at Lincoln National

In other news, EVP Craigt T. Beazer sold 30,000 shares of the company'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 transaction of $1,033,500.00. Following the transaction, the executive vice president owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. This represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.03% of the company's stock.

About Lincoln National

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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