VIRGINIA RETIREMENT SYSTEMS ET Al Takes $3.73 Million Position in Lincoln National Corporation $LNC

Key Points

• Virginia Retirement Systems acquired 105,400 shares of Lincoln National worth approximately $3.73 million, joining other institutional investors that increased their positions. Institutions collectively own 72.81% of the company.
• Lincoln National exceeded quarterly earnings expectations, reporting $2.24 EPS versus the $1.96 consensus estimate, while revenue rose 12.3% year over year to $4.93 billion.
• Analysts maintain a mixed outlook, with the stock carrying a consensus “Hold” rating and a $47.07 average price target. Lincoln National also declared a quarterly dividend of $0.45 per share, representing a 4.1% yield.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Lincoln National Corporation (NYSE:LNC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 105,400 shares of the financial services provider's stock, valued at approximately $3,726,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.06% of Lincoln National at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LNC. Baird Financial Group Inc. purchased a new position in shares of Lincoln National during the 1st quarter valued at $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 worth $2,585,000 after buying an additional 16,991 shares in the last quarter. Empowered Funds LLC boosted its stake in Lincoln National by 316.9% during the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider's stock valued at $2,123,000 after buying an additional 44,936 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Lincoln National by 5.0% during 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 in the last quarter. Finally, Focus Partners Wealth grew its position in Lincoln National by 39.1% during the first 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 in the last quarter. Institutional investors own 72.81% of the company's stock.

Insider Activity at Lincoln National

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

Analysts Set New Price Targets

Several research analysts recently weighed in on LNC shares. Keefe, Bruyette & Woods upped their price objective on shares of Lincoln National from $46.00 to $51.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their target price on shares of Lincoln National from $40.00 to $42.00 and gave the company an "underweight" rating in a research report on Tuesday, July 21st. Barclays raised shares of Lincoln National from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $42.00 to $45.00 in a report on Monday, July 6th. TD Cowen raised their price objective on shares of Lincoln National from $37.00 to $42.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. Finally, Bank of America reaffirmed a "neutral" rating and set a $47.00 price objective on shares of Lincoln National in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $47.07.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $43.56 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Corporation has a 52-week low of $32.18 and a 52-week high of $47.67. The company has a fifty day moving average of $42.89 and a 200-day moving average of $38.14. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 3.77, a price-to-earnings-growth ratio of 1.53 and a beta of 1.12.

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, topping the consensus estimate of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the firm posted $2.36 earnings per share. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. Equities research analysts expect that Lincoln National Corporation will post 7.97 EPS for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, October 9th. Lincoln National's payout ratio is 15.60%.

Lincoln National 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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