Lincoln National Corporation (NYSE:LNC) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,854,788 shares of the financial services provider's stock after purchasing an additional 97,600 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.84% of Lincoln National worth $174,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new stake in shares of Lincoln National in the fourth quarter valued at about $76,951,000. Balyasny Asset Management L.P. raised its holdings in shares of Lincoln National by 301.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock valued at $48,269,000 after acquiring an additional 1,142,759 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 acquiring an additional 708,584 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Lincoln National by 1,818.4% in the first quarter. SG Americas Securities LLC now owns 661,972 shares of the financial services provider's stock valued at $23,771,000 after acquiring an additional 627,466 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Lincoln National by 190.9% in the fourth quarter. LPL Financial LLC now owns 741,330 shares of the financial services provider's stock valued at $23,508,000 after acquiring an additional 486,478 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors.

Insider Activity at Lincoln National

In other news, EVP Brian Kroll sold 10,075 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total transaction of $333,482.50. Following the completion of the transaction, the executive vice president directly owned 48,743 shares of the company's stock, valued at $1,613,393.30. This represents a 17.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sean Woodroffe sold 43,622 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the transaction, the executive vice president directly owned 154,102 shares of the company's stock, valued at approximately $5,051,463.56. The trade was a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company's stock.

Lincoln National Stock Performance

NYSE LNC traded up $0.87 during trading hours on Thursday, reaching $34.52. The stock had a trading volume of 781,035 shares, compared to its average volume of 1,680,094. The stock has a fifty day moving average of $33.66 and a 200 day moving average of $33.97. The stock has a market cap of $5.89 billion, a P/E ratio of 4.90, a price-to-earnings-growth ratio of 0.44 and a beta of 1.39. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $39.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.25 and a current ratio of 0.25.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The business's quarterly revenue was up 14.0% compared to the same quarter last year. Sell-side analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.21%. Lincoln National's dividend payout ratio is presently 25.57%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LNC shares. JPMorgan Chase & Co. lifted their price objective on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price target on shares of Lincoln National from $39.00 to $40.00 and gave the company a "market perform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company increased their price target on shares of Lincoln National from $33.00 to $35.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Piper Sandler decreased their price target on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, Morgan Stanley increased their price target on shares of Lincoln National from $32.00 to $38.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $38.78.

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.