Mackenzie Financial Corp Increases Stock Position in Lincoln National Corporation (NYSE:LNC)

Key Points

• Mackenzie Financial Corp increased its stake in Lincoln National Corporation by 208.5% during Q1, acquiring an additional 78,995 shares to own a total of 116,883 shares valued at approximately $4.2 million.
• The stock recently reported earnings of $2.36 per share, surpassing analysts' expectations, but fell short on revenue with $4.04 billion against an expected $4.65 billion.
• Lincoln National announced a quarterly dividend of $0.45 per share, yielding 4.9%, and maintaining a dividend payout ratio of 25.57%.

Mackenzie Financial Corp grew its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 208.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,883 shares of the financial services provider's stock after acquiring an additional 78,995 shares during the quarter. Mackenzie Financial Corp owned about 0.07% of Lincoln National worth $4,197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. HighPoint Advisor Group LLC boosted its holdings in shares of Lincoln National by 3.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 8,460 shares of the financial services provider's stock valued at $268,000 after acquiring an additional 262 shares during the last quarter. SYM FINANCIAL Corp boosted its holdings in shares of Lincoln National by 5.9% during the 1st quarter. SYM FINANCIAL Corp now owns 7,154 shares of the financial services provider's stock valued at $257,000 after acquiring an additional 400 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Lincoln National by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 74,806 shares of the financial services provider's stock valued at $2,372,000 after acquiring an additional 470 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Lincoln National by 5.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,236 shares of the financial services provider's stock valued at $293,000 after acquiring an additional 513 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in shares of Lincoln National by 4.7% in the fourth quarter. Gotham Asset Management LLC now owns 11,720 shares of the financial services provider's stock worth $372,000 after buying an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Insider Activity at Lincoln National

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

Lincoln National Trading Down 3.3%

Lincoln National stock opened at $36.85 on Friday. The stock has a market cap of $6.29 billion, a P/E ratio of 6.43, a PEG ratio of 0.55 and a beta of 1.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.25. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $39.85. The firm's 50 day moving average price is $33.97 and its 200-day moving average price is $34.27.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.45. The firm had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same quarter last year, the business posted $1.87 earnings per share. On average, equities analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.9%. Lincoln National's dividend payout ratio (DPR) is presently 25.57%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Saturday. Piper Sandler dropped their price objective on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Wells Fargo & Company raised their price objective on shares of Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Morgan Stanley raised their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, Barclays raised their price objective on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $38.78.

About Lincoln National

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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