Toronto Dominion Bank Increases Position in Lincoln National Co. (NYSE:LNC)

Toronto Dominion Bank grew its stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 64.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,000 shares of the financial services provider's stock after buying an additional 21,600 shares during the period. Toronto Dominion Bank's holdings in Lincoln National were worth $1,744,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. HighPoint Advisor Group LLC increased its position in Lincoln National by 3.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 8,460 shares of the financial services provider's stock worth $268,000 after buying an additional 262 shares in the last quarter. Forvis Mazars Wealth Advisors LLC increased its position in Lincoln National by 3.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 11,199 shares of the financial services provider's stock worth $355,000 after buying an additional 338 shares in the last quarter. Roman Butler Fullerton & Co. increased its position in Lincoln National by 5.5% during the fourth quarter. Roman Butler Fullerton & Co. now owns 6,610 shares of the financial services provider's stock worth $224,000 after buying an additional 343 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of Lincoln National by 30.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 1,500 shares of the financial services provider's stock worth $48,000 after purchasing an additional 350 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Lincoln National by 0.9% during the 4th quarter. Arizona State Retirement System now owns 49,394 shares of the financial services provider's stock worth $1,566,000 after purchasing an additional 436 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Analysts Set New Price Targets

LNC has been the topic of several analyst reports. Barclays raised their price target on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Keefe, Bruyette & Woods decreased their price target on shares of Lincoln National from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. UBS Group raised their price target on shares of Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. Morgan Stanley raised their price target on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Piper Sandler decreased their price target on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $36.82.

Lincoln National Trading Down 1.6%

Lincoln National stock traded down $0.55 during midday trading on Wednesday, reaching $33.00. The stock had a trading volume of 578,566 shares, compared to its average volume of 1,964,822. The stock has a market capitalization of $5.63 billion, a PE ratio of 1.80, a price-to-earnings-growth ratio of 0.30 and a beta of 1.42. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Co. has a twelve month low of $27.58 and a twelve month high of $39.85. The stock's 50-day simple moving average is $32.90 and its 200 day simple moving average is $34.03.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.71 billion. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. Lincoln National's revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Analysts expect that Lincoln National Co. will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.46%. Lincoln National's dividend payout ratio (DPR) is 25.57%.

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.