Truist Financial Corp Acquires 6,739 Shares of Lincoln National Corporation $LNC

Key Points

• Truist Financial Corp has increased its holdings in Lincoln National Corporation by 4.1%, acquiring an additional 6,739 shares, bringing its total to 172,888 shares valued at approximately $5.98 million.
• Lincoln National is set to pay a quarterly dividend of $0.45 per share on November 3rd, which reflects an annualized dividend of $1.80, yielding 4.5%.
• The company reported a strong earnings performance, with $2.36 earnings per share for the last quarter, significantly exceeding analysts' expectations of $1.91 by $0.45.

Truist Financial Corp lifted its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 172,888 shares of the financial services provider's stock after buying an additional 6,739 shares during the period. Truist Financial Corp owned approximately 0.10% of Lincoln National worth $5,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new stake in shares of Lincoln National during the 1st quarter valued at $33,000. Wedmont Private Capital lifted its position in Lincoln National by 11.0% during the first quarter. Wedmont Private Capital now owns 10,438 shares of the financial services provider's stock valued at $375,000 after purchasing an additional 1,032 shares in the last quarter. Range Financial Group LLC lifted its position in Lincoln National by 4.4% during the first quarter. Range Financial Group LLC now owns 35,410 shares of the financial services provider's stock valued at $1,272,000 after purchasing an additional 1,508 shares in the last quarter. Daymark Wealth Partners LLC grew its holdings in Lincoln National by 1,370.7% during the first quarter. Daymark Wealth Partners LLC now owns 150,201 shares of the financial services provider's stock valued at $5,394,000 after purchasing an additional 139,988 shares during the period. Finally, GAMMA Investing LLC increased its position in Lincoln National by 32.0% in the first quarter. GAMMA Investing LLC now owns 8,838 shares of the financial services provider's stock worth $317,000 after buying an additional 2,142 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 123,815 shares in the company, valued at $4,864,691.35. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by insiders.

Lincoln National Stock Down 2.0%

NYSE:LNC opened at $40.27 on Tuesday. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 7.03, a price-to-earnings-growth ratio of 0.55 and a beta of 1.43. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $43.66. The stock has a fifty day simple moving average of $40.48 and a 200-day simple moving average of $35.81. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67.

Lincoln National (NYSE:LNC - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.91 by $0.45. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.During the same period in the previous year, the company posted $1.87 EPS. Analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.5%. Lincoln National's dividend payout ratio is currently 31.41%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LNC shares. Wells Fargo & Company reiterated a "positive" rating on shares of Lincoln National in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Lincoln National in a report on Saturday, September 27th. JPMorgan Chase & Co. boosted their target price on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their target price on shares of Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $39.45.

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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