Susquehanna Fundamental Investments LLC Acquires 133,973 Shares of Lincoln National Corporation $LNC

Key Points

• Susquehanna Fundamental Investments increased its Lincoln National stake by 557.5% in the second quarter, acquiring 133,973 additional shares and ending with 158,004 shares worth approximately $5.6 million. Institutional investors collectively own 72.81% of the company.
• Lincoln National reported quarterly EPS of $2.24, exceeding analyst expectations of $1.96, while revenue rose 12.3% year over year to $4.93 billion. The company also declared a quarterly dividend of $0.45 per share, representing a 4.2% annualized yield.
• Insiders sold 56,007 shares worth about $1.93 million over the past three months. Analysts maintain a consensus rating of “Hold”, with an average price target of $47.07 versus the stock’s reported price of $42.63.

Susquehanna Fundamental Investments LLC boosted its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 557.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 158,004 shares of the financial services provider's stock after buying an additional 133,973 shares during the quarter. Susquehanna Fundamental Investments LLC owned about 0.08% of Lincoln National worth $5,585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baird Financial Group Inc. bought a new position in shares of Lincoln National in the 1st quarter valued at approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Lincoln National by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider's stock valued at $2,585,000 after purchasing an additional 16,991 shares during the period. Empowered Funds LLC raised its position in shares of Lincoln National by 316.9% in the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider's stock valued at $2,123,000 after purchasing an additional 44,936 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider's stock worth $22,383,000 after buying an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in shares of Lincoln National by 39.1% during the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider's stock worth $701,000 after buying an additional 5,486 shares during the period. Institutional investors and hedge funds own 72.81% of the company's stock.

Insider Transactions at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the transaction, the executive vice president owned 103,906 shares of the company's stock, valued at $3,579,561.70. This represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sean Woodroffe sold 11,000 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $45.28, for a total transaction of $498,080.00. Following the transaction, the executive vice president owned 119,947 shares of the company's stock, valued at approximately $5,431,200.16. This represents a 8.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 56,007 shares of company stock valued at $1,929,266. Company insiders own 1.03% of the company's stock.

Lincoln National Price Performance

Shares of LNC stock opened at $42.63 on Tuesday. The stock has a 50 day moving average of $41.80 and a two-hundred day moving average of $37.95. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62. Lincoln National Corporation has a 12 month low of $32.18 and a 12 month high of $47.67. The company has a market capitalization of $8.16 billion, a P/E ratio of 3.69, a P/E/G ratio of 1.53 and a beta of 1.14.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.28. The business had revenue of $4.93 billion for the quarter, compared to analysts' expectations of $4.89 billion. Lincoln National had a return on equity of 17.35% and a net margin of 12.21%.Lincoln National's quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.36 earnings per share. As a group, equities analysts expect that Lincoln National Corporation will post 7.97 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued 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 of this dividend is Friday, October 9th. Lincoln National's dividend payout ratio (DPR) is presently 15.60%.

Analyst Ratings Changes

Several brokerages recently commented on LNC. Morgan Stanley lifted their target price on shares of Lincoln National from $40.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, August 24th. TD Cowen raised their price target on Lincoln National from $37.00 to $42.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. National Bank Financial set a $50.00 price objective on Lincoln National in a research note on Monday, August 24th. Jefferies Financial Group boosted their price objective on Lincoln National from $56.00 to $57.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Bank of America restated a "neutral" rating and set a $47.00 target price on shares of Lincoln National in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $47.07.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

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