Lincoln National Corporation $LNC Stock Position Raised by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Lincoln National by 10.2% in the first quarter, buying 139,267 additional shares and bringing its holding to 1,499,854 shares valued at about $53.2 million.
• Lincoln National reported better-than-expected quarterly earnings of $1.66 per share versus estimates of $1.58, though revenue of $4.87 billion came in slightly below expectations.
• Several analysts turned more positive on the stock, with price targets raised by firms including Barclays and Wells Fargo; the consensus rating remains Hold with an average target price of $44.79.

Hsbc Holdings PLC grew its position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,499,854 shares of the financial services provider's stock after buying an additional 139,267 shares during the quarter. Hsbc Holdings PLC owned approximately 0.78% of Lincoln National worth $53,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in Lincoln National in the fourth quarter valued at approximately $31,000. Transamerica Financial Advisors LLC bought a new stake in Lincoln National in the fourth quarter worth approximately $32,000. JPL Wealth Management LLC acquired a new position in shares of Lincoln National during the 3rd quarter worth $29,000. Los Angeles Capital Management LLC acquired a new position in shares of Lincoln National during the 4th quarter worth $34,000. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Lincoln National during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 72.81% of the company's stock.

Insider Buying and Selling at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the completion of the sale, the executive vice president owned 103,906 shares in the company, valued at $3,579,561.70. This represents a 22.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.03% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LNC. Keefe, Bruyette & Woods lifted their price objective on shares of Lincoln National from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Barclays upgraded Lincoln National from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $42.00 to $45.00 in a report on Monday, July 6th. Bank of America reduced their price target on Lincoln National from $41.00 to $37.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Wells Fargo & Company upped their price target on Lincoln National from $44.00 to $47.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Finally, National Bank Financial set a $51.00 price objective on Lincoln National in a report on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $44.79.

Lincoln National Stock Performance

NYSE:LNC opened at $41.60 on Tuesday. The firm has a market capitalization of $7.96 billion, a PE ratio of 4.83, a PEG ratio of 2.99 and a beta of 1.17. Lincoln National Corporation has a 1 year low of $32.18 and a 1 year high of $46.82. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65. The firm's fifty day simple moving average is $36.87 and its 200 day simple moving average is $37.55.

Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the business earned $1.60 EPS. The business's revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts anticipate that Lincoln National Corporation will post 7.73 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a $0.45 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Lincoln National's payout ratio is presently 20.88%.

Lincoln National 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.

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