Lincoln National Corporation $LNC Shares Purchased by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue increased its stake in Lincoln National Corporation by 7.8%, now owning 101,739 shares valued at about $3.5 million.
• In recent analyst reports, Lincoln National received a consensus rating of "Hold" with a price target of $39.45, while some brokerages issued conflicting ratings from "strong sell" to "overweight."
• Lincoln National announced a quarterly dividend of $0.45 per share, representing an annualized yield of 4.5%, scheduled for payment on November 3rd.

State of Alaska Department of Revenue increased its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 101,739 shares of the financial services provider's stock after purchasing an additional 7,353 shares during the period. State of Alaska Department of Revenue owned 0.06% of Lincoln National worth $3,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its position in shares of Lincoln National by 22.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider's stock worth $6,642,000 after purchasing an additional 33,644 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Lincoln National by 34.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 204,010 shares of the financial services provider's stock valued at $7,346,000 after acquiring an additional 51,823 shares in the last quarter. Integrated Advisors Network LLC purchased a new stake in Lincoln National during the 1st quarter valued at about $293,000. DMC Group LLC grew its stake in Lincoln National by 47.1% during the 1st quarter. DMC Group LLC now owns 25,749 shares of the financial services provider's stock valued at $925,000 after acquiring an additional 8,250 shares in the last quarter. Finally, Smith Salley Wealth Management purchased a new stake in Lincoln National during the 1st quarter valued at about $268,000. Institutional investors and hedge funds own 72.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LNC. Wolfe Research raised shares of Lincoln National to a "strong sell" rating in a research note on Tuesday, September 16th. Wells Fargo & Company reaffirmed a "positive" rating on shares of Lincoln National in a research note on Tuesday, August 5th. National Bankshares set a $41.00 price objective on shares of Lincoln National in a research note on Monday, August 18th. Cfra Research raised shares of Lincoln National to a "hold" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley raised shares of Lincoln National from an "equal weight" rating to an "overweight" rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.45.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the sale, the executive vice president directly owned 123,815 shares in the company, valued at $4,864,691.35. This represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by company insiders.

Lincoln National Stock Performance

Shares of LNC stock opened at $40.30 on Wednesday. The firm's 50 day moving average price is $40.04 and its 200-day moving average price is $35.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. Lincoln National Corporation has a one year low of $27.58 and a one year high of $43.66. The firm has a market cap of $7.64 billion, a P/E ratio of 7.03, a P/E/G ratio of 0.54 and a beta of 1.48.

Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.45. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period in the prior year, the business earned $1.87 EPS. As a group, equities research analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.5%. Lincoln National's dividend payout ratio is 31.41%.

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.

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