Oxbow Advisors LLC Takes $6.59 Million Position in Lincoln National Corporation $LNC

Key Points

• Oxbow Advisors LLC has acquired a new position in Lincoln National Corporation, purchasing 190,472 shares valued at approximately $6.59 million during the second quarter.
• The company's stock is currently trading at $38.05, down 3.7%, with a market capitalization of $7.21 billion and a price-to-earnings ratio of 6.64.
• Lincoln National recently announced a quarterly dividend of $0.45 per share, representing an annualized yield of 4.7%, with a dividend payout ratio of 31.41%.

Oxbow Advisors LLC purchased a new position in Lincoln National Corporation (NYSE:LNC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 190,472 shares of the financial services provider's stock, valued at approximately $6,590,000. Oxbow Advisors LLC owned about 0.11% of Lincoln National as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LNC. Massachusetts Financial Services Co. MA raised its stake in shares of Lincoln National by 2.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,854,788 shares of the financial services provider's stock valued at $174,335,000 after acquiring an additional 97,600 shares during the period. Dimensional Fund Advisors LP raised its position in Lincoln National by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider's stock worth $110,753,000 after purchasing an additional 208,114 shares during the period. Northern Trust Corp lifted its stake in Lincoln National by 6.1% in the first quarter. Northern Trust Corp now owns 2,566,274 shares of the financial services provider's stock worth $92,155,000 after purchasing an additional 146,667 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Lincoln National by 84.5% during the first quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider's stock valued at $72,039,000 after buying an additional 935,225 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Lincoln National by 0.4% during the first quarter. Invesco Ltd. now owns 1,597,913 shares of the financial services provider's stock valued at $57,381,000 after buying an additional 5,936 shares during the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction on Thursday, August 7th. The shares were 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 of the company's stock, valued at approximately $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.

Lincoln National Trading Down 3.7%

NYSE LNC opened at $38.05 on Friday. The company's 50-day simple moving average is $40.81 and its two-hundred day simple moving average is $35.97. Lincoln National Corporation has a one year low of $27.58 and a one year high of $43.66. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26.

Lincoln National (NYSE:LNC - Get Free Report) last issued 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 company had revenue of $4.04 billion for 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 period last year, the company posted $1.87 earnings per share. Equities analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company 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 of this dividend is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.7%. Lincoln National's dividend payout ratio is presently 31.41%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley dropped their price objective on Lincoln National from $58.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, October 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of Lincoln National in a research note on Wednesday, October 8th. Piper Sandler restated a "neutral" rating and issued a $42.00 price target on shares of Lincoln National in a report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Lincoln National from $42.00 to $43.00 and gave the company a "market perform" rating in a report on Thursday, October 9th. Finally, Evercore ISI boosted their price objective on shares of Lincoln National from $45.00 to $46.00 and gave the company an "in-line" rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $43.09.

Lincoln National Company 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.

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