39,233 Shares in Lincoln National Corporation $LNC Bought by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC has acquired a new position in Lincoln National Corporation, purchasing 39,233 shares valued at approximately $1.4 million in the first quarter.
• Lincoln National reported an EPS of $2.36 for the last quarter, exceeding analyst expectations of $1.91 and has declared a quarterly dividend of $0.45.
• Institutional investors own 72.81% of Lincoln National’s stock, indicating strong institutional interest in the company.

Oliver Luxxe Assets LLC acquired a new stake in Lincoln National Corporation (NYSE:LNC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 39,233 shares of the financial services provider's stock, valued at approximately $1,409,000.

A number of other institutional investors have also recently added to or reduced their stakes in LNC. Mariner LLC boosted its stake in shares of Lincoln National by 2.0% in the 4th 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 position in 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. Dimensional Fund Advisors LP lifted its stake in shares of Lincoln National by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,876,319 shares of the financial services provider's stock valued at $91,208,000 after purchasing an additional 56,614 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Lincoln National by 498.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 24,716 shares of the financial services provider's stock valued at $784,000 after purchasing an additional 20,586 shares during the period. Finally, State of Tennessee Department of Treasury boosted its position in shares of Lincoln National by 7.8% during the 4th quarter. State of Tennessee Department of Treasury now owns 106,896 shares of the financial services provider's stock valued at $3,390,000 after purchasing an additional 7,754 shares in the last quarter. 72.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LNC has been the subject of a number of research analyst reports. National Bankshares set a $41.00 target price on Lincoln National in a research report on Monday, August 18th. Barclays upped their target price on Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Wells Fargo & Company reissued a "positive" rating on shares of Lincoln National in a research report on Tuesday, August 5th. Morgan Stanley upped their price objective 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, Keefe, Bruyette & Woods boosted their target price 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, August 4th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $39.70.

Insider Buying and Selling

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction dated Thursday, August 7th. The stock was 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 of the company's stock, valued at $4,864,691.35. The trade was a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.51% of the stock is currently owned by corporate insiders.

Lincoln National Stock Performance

Shares of NYSE LNC traded up $0.31 during trading on Thursday, reaching $42.74. 1,290,886 shares of the stock traded hands, compared to its average volume of 1,951,472. The company has a 50-day moving average of $36.55 and a 200-day moving average of $35.04. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $42.92. The stock has a market capitalization of $8.10 billion, a P/E ratio of 7.46, a price-to-earnings-growth 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 (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. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates 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 earned $1.87 earnings per share. Analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.45 per share. 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 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.