Mackenzie Financial Corp Purchases 25,424 Shares of Lincoln National Co. (NYSE:LNC)

Mackenzie Financial Corp boosted its holdings in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 204.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,888 shares of the financial services provider's stock after purchasing an additional 25,424 shares during the period. Mackenzie Financial Corp's holdings in Lincoln National were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Lincoln National during the 4th quarter worth about $76,951,000. Balyasny Asset Management L.P. raised its stake in shares of Lincoln National by 301.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock worth $48,269,000 after buying an additional 1,142,759 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Lincoln National by 84.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider's stock valued at $48,948,000 after purchasing an additional 708,584 shares in the last quarter. LPL Financial LLC increased its position in shares of Lincoln National by 190.9% during the 4th quarter. LPL Financial LLC now owns 741,330 shares of the financial services provider's stock worth $23,508,000 after purchasing an additional 486,478 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Lincoln National by 53.1% in the fourth quarter. First Trust Advisors LP now owns 1,258,512 shares of the financial services provider's stock valued at $39,907,000 after purchasing an additional 436,462 shares in the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lincoln National

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

Lincoln National Trading Down 1.7%

Shares of NYSE LNC traded down $0.55 during mid-day trading on Wednesday, hitting $32.68. 1,502,971 shares of the company traded hands, compared to its average volume of 1,635,493. Lincoln National Co. has a 1 year low of $27.58 and a 1 year high of $39.85. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 1.78, a PEG ratio of 0.30 and a beta of 1.42. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $32.44 and a two-hundred day moving average of $33.93.

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

Lincoln National Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.51%. Lincoln National's dividend payout ratio (DPR) is currently 25.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LNC shares. Wells Fargo & Company reduced their price target on shares of Lincoln National from $36.00 to $31.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. UBS Group boosted their price objective on Lincoln National from $32.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Evercore ISI increased their price objective on Lincoln National from $41.00 to $44.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Barclays lifted their target price on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, Wall Street Zen cut shares of Lincoln National from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $36.82.

Lincoln National 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.