Northern Trust Corp Acquires 146,667 Shares of Lincoln National Corporation $LNC

Key Points

• Northern Trust Corp increased its stake in Lincoln National Corporation by 6.1%, owning a total of 2,566,274 shares worth approximately $92.16 million after purchasing an additional 146,667 shares.
• Lincoln National recently reported earnings per share (EPS) of $2.36 for the last quarter, exceeding analysts' expectations by $0.45, although revenue fell short at $4.04 billion.
• The company declared a quarterly dividend of $0.45 per share, which translates to a 4.3% dividend yield, with the payment date set for November 3rd.

Northern Trust Corp lifted its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 6.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,566,274 shares of the financial services provider's stock after purchasing an additional 146,667 shares during the period. Northern Trust Corp owned about 1.50% of Lincoln National worth $92,155,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LNC. Janney Montgomery Scott LLC boosted its holdings in Lincoln National by 22.2% in the first quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider's stock valued at $6,642,000 after acquiring an additional 33,644 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Lincoln National by 34.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 204,010 shares of the financial services provider's stock valued at $7,346,000 after buying an additional 51,823 shares in the last quarter. Integrated Advisors Network LLC bought a new stake in shares of Lincoln National during the 1st quarter valued at $293,000. DMC Group LLC boosted its holdings in shares of Lincoln National by 47.1% during the 1st quarter. DMC Group LLC now owns 25,749 shares of the financial services provider's stock valued at $925,000 after buying an additional 8,250 shares in the last quarter. Finally, Smith Salley Wealth Management bought a new stake in shares of Lincoln National during the 1st quarter valued at $268,000. Institutional investors own 72.81% of the company's stock.

Insider Buying and Selling at Lincoln National

In related news, EVP John Christopher Kennedy sold 5,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the completion of the transaction, the executive vice president owned 123,815 shares in the company, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.51% of the company's stock.

Lincoln National Price Performance

Shares of NYSE:LNC traded up $0.13 during midday trading on Friday, reaching $42.90. 654,895 shares of the company were exchanged, compared to its average volume of 1,943,728. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67. The business's fifty day moving average is $36.74 and its two-hundred day moving average is $35.07. Lincoln National Corporation has a one year low of $27.58 and a one year high of $43.12. The stock has a market cap of $8.13 billion, a PE ratio of 7.49, a price-to-earnings-growth ratio of 0.58 and a beta of 1.42.

Lincoln National (NYSE:LNC - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.91 by $0.45. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the business earned $1.87 earnings per share. As a group, 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 announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. Lincoln National's dividend payout ratio is currently 31.41%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LNC. National Bankshares set a $41.00 price target on shares of Lincoln National in a research note on Monday, August 18th. Piper Sandler decreased their target price on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Cfra Research raised shares of Lincoln National to a "hold" rating in a report on Wednesday, August 6th. Morgan Stanley lifted their target price on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Finally, 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 report on Friday, May 9th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $39.70.

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.