Lincoln National Corporation $LNC Stock Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC more than doubled its Lincoln National stake by 112.8% in the third quarter, bringing its holdings to 50,588 shares valued at approximately $2.04 million. Institutional investors collectively own 72.81% of the company.
• Analyst sentiment is mixed but leans positive, with seven Buy ratings, five Holds, and one Sell; the average price target is $48.25 versus the stock’s reported price of $40.60.
• Lincoln National exceeded quarterly earnings expectations, reporting $2.24 EPS versus the $1.96 consensus estimate, while revenue rose 12.3% year over year. The company also declared a $0.45 quarterly dividend, yielding approximately 4.4% annually.

Farther Finance Advisors LLC boosted its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 112.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,588 shares of the financial services provider's stock after purchasing an additional 26,814 shares during the period. Farther Finance Advisors LLC's holdings in Lincoln National were worth $2,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Trust Co. of Vermont acquired a new position in Lincoln National in the second quarter valued at about $28,000. NBT Bank N A NY increased its holdings in Lincoln National by 2,051.1% during the 1st quarter. NBT Bank N A NY now owns 968 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 923 shares in the last quarter. SJS Investment Consulting Inc. increased its holdings in Lincoln National by 6,269.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,465 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 1,442 shares in the last quarter. Eastern Bank increased its holdings in Lincoln National by 45.7% during the 2nd quarter. Eastern Bank now owns 1,865 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 585 shares in the last quarter. Finally, CoreCap Advisors LLC raised its position in Lincoln National by 935.2% in the 2nd quarter. CoreCap Advisors LLC now owns 1,853 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 1,674 shares during the last quarter. Institutional investors own 72.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Lincoln National from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Jefferies Financial Group upped their price target on Lincoln National from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Morgan Stanley dropped their price objective on Lincoln National from $50.00 to $47.00 and set an "overweight" rating for the company in a report on Monday, October 5th. Bank of America reissued a "neutral" rating and set a $47.00 price objective on shares of Lincoln National in a report on Thursday, July 30th. Finally, Mizuho cut their target price on shares of Lincoln National from $53.00 to $49.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 7th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lincoln National presently has an average rating of "Hold" and an average target price of $48.25.

Lincoln National Stock Up 0.3%

NYSE:LNC opened at $40.60 on Wednesday. Lincoln National Corporation has a 1 year low of $32.18 and a 1 year high of $47.67. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 3.52, a PEG ratio of 1.43 and a beta of 1.16. The stock has a 50-day moving average price of $42.94 and a two-hundred day moving average price of $39.30.

Lincoln National (NYSE:LNC - Get Free Report) last posted its earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.28. Lincoln National had a return on equity of 17.35% and a net margin of 12.21%. The business had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the prior year, the business earned $2.36 EPS. Lincoln National's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts expect that Lincoln National Corporation will post 7.95 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, October 9th. Lincoln National's dividend payout ratio (DPR) is currently 15.60%.

Insider Buying and Selling

In other Lincoln National news, Director Gary Kelly sold 15,007 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $26.50, for a total transaction of $397,685.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sean Woodroffe sold 11,000 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $45.28, for a total value of $498,080.00. Following the completion of the transaction, the executive vice president owned 119,947 shares of the company's stock, valued at approximately $5,431,200.16. This represents a 8.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.03% of the stock is owned by company insiders.

Lincoln National Company Profile

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement solutions primarily in the United States. Its businesses serve individuals, families, employers and institutions through a portfolio of life insurance, annuities and workplace benefit products.

The company's offerings include term and permanent life insurance, variable and fixed annuities, and retirement plan services designed to support income and financial planning needs.

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