Kendall Capital Management Takes Position in Lincoln National Corporation $LNC

Key Points

• Kendall Capital Management acquired 25,720 shares of Lincoln National in the second quarter, valued at approximately $909,000. Institutional investors and hedge funds collectively own 72.81% of the company.
• Analyst sentiment remains mixed, with an average “Hold” rating and a consensus price target of $46.43; recent targets range from $42 to $53.
• Lincoln National exceeded quarterly earnings expectations, reporting $2.24 EPS versus $1.96 expected, while revenue rose 12.3% year over year to $4.93 billion. The company also declared a quarterly dividend of $0.45 per share, yielding about 4.3%.

Kendall Capital Management acquired a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 25,720 shares of the financial services provider's stock, valued at approximately $909,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LNC. Transamerica Financial Advisors LLC acquired a new stake in Lincoln National in the fourth quarter valued at $32,000. JPL Wealth Management LLC purchased a new stake in Lincoln National during the 3rd quarter worth about $29,000. Trust Co. of Vermont acquired a new position in shares of Lincoln National during the 2nd quarter worth about $28,000. Los Angeles Capital Management LLC acquired a new position in shares of Lincoln National during the 4th quarter worth about $34,000. Finally, Laurel Wealth Advisors LLC purchased a new position in shares of Lincoln National in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 72.81% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Lincoln National from $44.00 to $47.00 and gave the stock an "overweight" rating in a research report on Thursday, July 9th. Bank of America reiterated a "neutral" rating and issued a $47.00 price target on shares of Lincoln National in a research note on Thursday, July 30th. TD Cowen raised their price objective on shares of Lincoln National from $37.00 to $42.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Mizuho raised their price objective on shares of Lincoln National from $51.00 to $53.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Lincoln National from a "hold (c)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Lincoln National currently has an average rating of "Hold" and an average price target of $46.43.

Lincoln National Stock Performance

Shares of LNC opened at $42.15 on Friday. The company's 50 day simple moving average is $41.14 and its 200-day simple moving average is $37.86. The firm has a market cap of $8.07 billion, a PE ratio of 3.65, a price-to-earnings-growth ratio of 1.51 and a beta of 1.15. Lincoln National Corporation has a 12-month low of $32.18 and a 12-month high of $47.67. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 EPS for the quarter, beating the consensus estimate of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The firm had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. Lincoln National's revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities analysts predict that Lincoln National Corporation will post 7.85 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 9th. Lincoln National's dividend payout ratio is presently 15.60%.

Insider Transactions at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the business's stock in a transaction dated 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 owned 103,906 shares in the company, valued at $3,579,561.70. The trade was a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sean Woodroffe sold 11,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $45.28, for a total value of $498,080.00. Following the sale, the executive vice president directly owned 119,947 shares of the company's stock, valued at approximately $5,431,200.16. This represents a 8.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 56,007 shares of company stock worth $1,929,266. Company 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source