Lincoln National Corporation $LNC Shares Purchased by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its stake in Lincoln National by 5.0% in Q3 to 4,879,862 shares, representing about 2.57% of the company and valued at roughly $196.8 million.
• Lincoln National reported quarterly EPS of $2.21 versus analysts' $1.86 estimate and revenue of $4.89 billion, narrowly beating expectations though revenue was down 2.8% year-over-year.
• The company declared a quarterly dividend of $0.45 per share (annualized $1.80), implying a 5.3% yield; the ex-dividend and record date is April 10 and the payment date is May 1.

First Trust Advisors LP grew its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,879,862 shares of the financial services provider's stock after buying an additional 234,415 shares during the quarter. First Trust Advisors LP owned 2.57% of Lincoln National worth $196,805,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LNC. Vanguard Group Inc. grew its stake in shares of Lincoln National by 6.3% in the third quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider's stock valued at $802,717,000 after buying an additional 1,183,934 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Lincoln National by 145.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 116,116 shares of the financial services provider's stock worth $4,683,000 after acquiring an additional 68,827 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Lincoln National by 30.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,931 shares of the financial services provider's stock worth $8,180,000 after acquiring an additional 47,419 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Lincoln National by 101.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 285,105 shares of the financial services provider's stock worth $11,498,000 after acquiring an additional 143,862 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Lincoln National by 21.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider's stock valued at $240,051,000 after acquiring an additional 1,035,505 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Trading Down 3.1%

NYSE LNC opened at $34.03 on Friday. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 1.52 and a beta of 1.30. 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 12 month low of $27.58 and a 12 month high of $46.82. The company's fifty day moving average price is $40.49 and its two-hundred day moving average price is $41.17.

Lincoln National (NYSE:LNC - Get Free Report) last issued its earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.35. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the business posted $1.91 EPS. The company's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, research analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, April 10th. This represents a $1.80 annualized dividend and a yield of 5.3%. Lincoln National's dividend payout ratio is presently 33.90%.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 10,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $34.46, for a total transaction of $344,600.00. Following the transaction, the executive vice president owned 206,159 shares of the company's stock, valued at $7,104,239.14. This trade represents a 4.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Christopher Kennedy sold 3,519 shares of Lincoln National stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the completion of the transaction, the executive vice president owned 118,985 shares of the company's stock, valued at approximately $5,253,187.75. The trade was a 2.87% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,569 shares of company stock worth $627,484. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LNC shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Lincoln National in a research note on Monday, December 29th. Piper Sandler raised their price target on shares of Lincoln National from $42.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, December 23rd. National Bank Financial set a $45.00 price target on shares of Lincoln National in a research note on Thursday, January 8th. TD Cowen reiterated a "hold" rating on shares of Lincoln National in a report on Wednesday, January 28th. Finally, Jefferies Financial Group upped their price objective on shares of Lincoln National from $52.00 to $59.00 and gave the company a "buy" rating in a research report on Monday, December 15th. Five 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.25.

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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