Toronto Dominion Bank Purchases 21,600 Shares of Lincoln National Co. (NYSE:LNC)

Toronto Dominion Bank grew its stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 64.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,000 shares of the financial services provider's stock after buying an additional 21,600 shares during the quarter. Toronto Dominion Bank's holdings in Lincoln National were worth $1,744,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Lincoln National by 14.4% during the fourth quarter. JPMorgan Chase & Co. now owns 330,755 shares of the financial services provider's stock worth $10,488,000 after acquiring an additional 41,533 shares during the last quarter. National Bank of Canada FI increased its holdings in Lincoln National by 20,127.5% in the fourth quarter. National Bank of Canada FI now owns 316,965 shares of the financial services provider's stock worth $10,051,000 after purchasing an additional 315,398 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Lincoln National by 19.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 64,658 shares of the financial services provider's stock valued at $2,050,000 after buying an additional 10,560 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Lincoln National during the 4th quarter worth approximately $1,050,000. Finally, Amundi grew its position in shares of Lincoln National by 92.0% during the 4th quarter. Amundi now owns 119,294 shares of the financial services provider's stock worth $3,747,000 after buying an additional 57,152 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Stock Performance

Shares of NYSE:LNC traded up $1.12 during midday trading on Tuesday, hitting $33.50. The company had a trading volume of 1,751,743 shares, compared to its average volume of 1,640,863. The company has a market cap of $5.72 billion, a price-to-earnings ratio of 1.82, a PEG ratio of 0.30 and a beta of 1.42. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.27 and a quick ratio of 0.27. The company has a fifty day moving average of $32.96 and a two-hundred day moving average of $34.03. Lincoln National Co. has a 12-month low of $27.58 and a 12-month high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. Lincoln National had a return on equity of 18.47% and a net margin of 17.76%. The firm had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter last year, the business posted $0.41 earnings per share. The firm's revenue was up 14.0% on a year-over-year basis. On average, equities research analysts expect that Lincoln National Co. will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.37%. Lincoln National's dividend payout ratio (DPR) is 25.57%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LNC shares. Keefe, Bruyette & Woods decreased their price objective on Lincoln National from $40.00 to $38.00 and set a "market perform" rating for the company in a report on Wednesday, April 9th. Piper Sandler lowered their target price 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. Barclays upped 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. Wall Street Zen lowered Lincoln National from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, UBS Group boosted their target price on Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $36.82.

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.