Lincoln National Corporation (NYSE:LNC) Shares Acquired by Mackenzie Financial Corp

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 raised its position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 208.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,883 shares of the financial services provider's stock after buying an additional 78,995 shares during the quarter. Mackenzie Financial Corp owned about 0.07% of Lincoln National worth $4,197,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Hollencrest Capital Management raised its position in shares of Lincoln National by 383.2% in the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 594 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in Lincoln National during the 4th quarter worth approximately $32,000. NBC Securities Inc. acquired a new stake in shares of Lincoln National during the 1st quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in shares of Lincoln National during the 4th quarter worth approximately $35,000. Finally, Aster Capital Management DIFC Ltd grew its stake in shares of Lincoln National by 182.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock worth $40,000 after purchasing an additional 807 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lincoln National

In other news, 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 transaction of $1,429,929.16. Following the completion of the sale, the executive vice president owned 154,102 shares in the company, valued at $5,051,463.56. This represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $333,482.50. Following the sale, the executive vice president owned 48,743 shares of the company's stock, valued at $1,613,393.30. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company reissued a "positive" rating on shares of Lincoln National in a research note on Tuesday. Morgan Stanley lifted 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 note on Monday, May 19th. Wall Street Zen raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday. Barclays lifted their target price on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $39.22.

Lincoln National Trading Up 1.9%

NYSE LNC traded up $0.74 during trading on Wednesday, hitting $39.52. The stock had a trading volume of 1,503,249 shares, compared to its average volume of 1,975,584. The company has a market capitalization of $7.49 billion, a PE ratio of 6.89, a PEG ratio of 0.53 and a beta of 1.42. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $34.19 and a 200 day moving average price of $34.36. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $39.85.

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

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, July 10th. Lincoln National's dividend payout ratio is presently 31.41%.

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.