GAMMA Investing LLC Has $11.40 Million Stake in Lincoln National Co. (NYSE:LNC)

GAMMA Investing LLC raised its stake in Lincoln National Co. (NYSE:LNC - Free Report) by 4,639.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,373 shares of the financial services provider's stock after acquiring an additional 310,677 shares during the quarter. GAMMA Investing LLC owned about 0.19% of Lincoln National worth $11,397,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M Holdings Securities Inc. bought a new stake in shares of Lincoln National during the fourth quarter valued at approximately $29,000. Kapitalo Investimentos Ltda acquired a new position in Lincoln National during the 4th quarter worth $32,000. Headlands Technologies LLC bought a new position in Lincoln National in the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new position in Lincoln National in the 4th quarter valued at $36,000. Finally, Aster Capital Management DIFC Ltd increased its stake in shares of Lincoln National by 182.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock valued at $40,000 after buying an additional 807 shares during the period. Institutional investors and hedge funds own 72.81% of the company's stock.

Insider Activity

In other Lincoln National news, EVP Sean Woodroffe sold 43,622 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total transaction of $1,429,929.16. Following the completion of the transaction, the executive vice president now owns 154,102 shares in the company, valued at approximately $5,051,463.56. This represents a 22.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Kroll sold 10,075 shares of Lincoln National stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the sale, the executive vice president now directly owns 48,743 shares in the company, valued at $1,613,393.30. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LNC shares. Barclays upped their price target on Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. UBS Group upped their target price on shares of Lincoln National from $32.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. Morgan Stanley raised their target price on shares of Lincoln National from $32.00 to $38.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wells Fargo & Company reduced their price objective on shares of Lincoln National from $36.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Finally, Piper Sandler dropped their target price on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $36.82.

Lincoln National Trading Up 1.9%

NYSE:LNC traded up $0.63 during trading hours on Friday, hitting $33.44. The stock had a trading volume of 1,091,558 shares, compared to its average volume of 1,629,537. The business's 50 day moving average is $32.32 and its 200-day moving average is $33.91. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 1.82, a P/E/G ratio of 0.30 and a beta of 1.40. Lincoln National Co. has a one year low of $27.58 and a one year high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.71 billion. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. The firm's quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. Sell-side analysts anticipate that Lincoln National Co. will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date is Thursday, July 10th. Lincoln National's dividend payout ratio is currently 25.57%.

Lincoln National Company Profile

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.