Sterling Capital Management LLC Acquires 60,007 Shares of Lincoln National Corporation $LNC

Key Points

• Sterling Capital Management increased its Lincoln National holdings by 542.1% in the third quarter, adding 60,007 shares to own 71,077 shares valued at approximately $2.86 million.
• Analyst sentiment is mixed, with seven Buy, five Hold and one Sell rating; the stock has a consensus rating of Hold and an average price target of $48.67.
• Lincoln National reported quarterly EPS of $2.24, exceeding estimates, while revenue rose 12.3% year over year. The company declared a quarterly dividend of $0.45, equivalent to a 4.5% annualized yield.

Sterling Capital Management LLC increased its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 542.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,077 shares of the financial services provider's stock after acquiring an additional 60,007 shares during the quarter. Sterling Capital Management LLC's holdings in Lincoln National were worth $2,862,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LNC. Trust Co. of Vermont acquired a new stake in Lincoln National in the 2nd quarter valued at about $28,000. NBT Bank N A NY boosted its holdings in shares of Lincoln National by 2,051.1% during the 1st quarter. NBT Bank N A NY now owns 968 shares of the financial services provider's stock worth $34,000 after purchasing an additional 923 shares during the last quarter. Reyes Financial Architecture Inc. acquired a new position in shares of Lincoln National during the 3rd quarter worth approximately $36,000. SJS Investment Consulting Inc. boosted its holdings in shares of Lincoln National by 6,269.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 1,465 shares of the financial services provider's stock worth $52,000 after purchasing an additional 1,442 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Lincoln National in the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 72.81% of the company's stock.

Insider Buying and Selling

In other Lincoln National news, EVP Sean Woodroffe sold 11,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $45.28, for a total transaction of $498,080.00. Following the completion of the sale, the executive vice president owned 119,947 shares of the company's stock, valued at $5,431,200.16. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary C. Kelly sold 15,007 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total value of $397,685.50. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LNC shares. National Bank Financial set a $49.00 price target on Lincoln National in a report on Wednesday, October 7th. Morgan Stanley lowered their price objective on Lincoln National from $50.00 to $47.00 and set an "overweight" rating on the stock in a research note on Monday, October 5th. Wells Fargo & Company boosted their price objective on Lincoln National from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. UBS Group upped their target price on Lincoln National from $44.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, October 6th. Finally, Mizuho cut their target price on Lincoln National from $53.00 to $49.00 and set an "outperform" rating for the company in a research note on Wednesday, October 7th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $48.67.

Lincoln National Stock Performance

NYSE:LNC opened at $39.86 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 3.45, a PEG ratio of 1.34 and a beta of 1.16. The company's 50-day moving average is $42.05 and its two-hundred day moving average is $39.58. Lincoln National Corporation has a 1-year low of $32.18 and a 1-year high of $47.67.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.28. The business had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.36 EPS. Analysts forecast that Lincoln National Corporation will post 7.94 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be issued a $0.45 dividend. The ex-dividend date is Friday, October 9th. This represents a $1.80 dividend on an annualized basis and a yield of 4.5%. Lincoln National's dividend payout ratio is currently 15.60%.

About Lincoln National

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement products primarily in the United States. Its businesses are designed to help individuals, employers and institutions manage financial protection, income and long-term savings needs.

The company offers life insurance and annuities, including products intended to provide death-benefit protection, retirement income and asset accumulation. Through its group protection business, Lincoln also provides employer-sponsored disability, dental, vision and leave-management solutions, as well as related workplace benefits and services.

Lincoln traces its history to the founding of The Lincoln National Life Insurance Company in Fort Wayne, Indiana, in 1905.

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