Nuveen LLC Buys New Position in Lincoln National Corporation $LNC

Key Points

• Nuveen LLC acquired a new position in Lincoln National Corporation, purchasing 352,123 shares valued at approximately $12.6 million, bringing its total ownership to 0.21% as of the end of the most recent quarter.
• Lincoln National Corp reported earnings of $2.36 per share for the latest quarter, exceeding analysts' expectations of $1.91, although revenue fell short projections at $4.04 billion compared to the estimated $4.65 billion.
• The company recently declared a quarterly dividend of $0.45 per share, with a yield of 4.4%, and has a dividend payout ratio of 31.41%.

Nuveen LLC bought a new stake in Lincoln National Corporation (NYSE:LNC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 352,123 shares of the financial services provider's stock, valued at approximately $12,645,000. Nuveen LLC owned about 0.21% of Lincoln National as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of LNC. Mariner LLC grew its holdings in Lincoln National by 2.0% in the fourth quarter. Mariner LLC now owns 28,934 shares of the financial services provider's stock valued at $917,000 after purchasing an additional 581 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Lincoln National by 33.5% during the fourth quarter. Guggenheim Capital LLC now owns 14,356 shares of the financial services provider's stock valued at $455,000 after acquiring an additional 3,606 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Lincoln National by 11.4% during the fourth quarter. NewEdge Advisors LLC now owns 44,820 shares of the financial services provider's stock valued at $1,421,000 after acquiring an additional 4,578 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Lincoln National by 53.1% during the fourth quarter. First Trust Advisors LP now owns 1,258,512 shares of the financial services provider's stock valued at $39,907,000 after acquiring an additional 436,462 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Lincoln National by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,876,319 shares of the financial services provider's stock valued at $91,208,000 after acquiring an additional 56,614 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on LNC. Piper Sandler decreased their price objective on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Cfra Research raised Lincoln National to a "hold" rating in a research note on Wednesday, August 6th. Barclays increased their price objective on Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. increased their price objective on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley increased their price objective on Lincoln National from $38.00 to $41.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lincoln National presently has an average rating of "Hold" and a consensus price target of $39.70.

Lincoln National Trading Down 0.3%

NYSE:LNC traded down $0.13 during mid-day trading on Wednesday, reaching $42.49. The company's stock had a trading volume of 1,596,435 shares, compared to its average volume of 2,203,443. The company's fifty day simple moving average is $36.55 and its two-hundred day simple moving average is $35.04. The stock has a market cap of $8.05 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.59 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 0.26. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $42.92.

Lincoln National (NYSE:LNC - Get Free Report) last released 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. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.65 billion. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.During the same period last year, the business posted $1.87 EPS. On average, equities analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. Lincoln National's dividend payout ratio (DPR) is 31.41%.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the transaction, the executive vice president directly owned 123,815 shares in the company, valued at $4,864,691.35. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the transaction, the executive vice president owned 48,743 shares in the company, valued at approximately $1,613,393.30. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.51% of the company's stock.

Lincoln National 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.