123,645 Shares in Lincoln National Co. (NYSE:LNC) Bought by Bank of Montreal Can

Bank of Montreal Can acquired a new position in shares of Lincoln National Co. (NYSE:LNC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 123,645 shares of the financial services provider’s stock, valued at approximately $3,202,000.

Several other large investors have also modified their holdings of LNC. Sentry Investment Management LLC bought a new stake in Lincoln National in the 1st quarter valued at $25,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Lincoln National by 368.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,102 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 867 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Lincoln National by 1,197.5% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 1,025 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 946 shares during the period. Barrett & Company Inc. bought a new stake in Lincoln National in the 1st quarter valued at $27,000. Finally, IAG Wealth Partners LLC bought a new stake in Lincoln National in the 1st quarter valued at $28,000. 71.89% of the stock is owned by institutional investors.

Lincoln National Trading Down 3.1 %

Shares of Lincoln National stock opened at $23.81 on Tuesday. The firm has a 50-day moving average of $24.07 and a 200-day moving average of $24.13. The stock has a market cap of $4.04 billion, a PE ratio of 10.05 and a beta of 1.83. Lincoln National Co. has a 52-week low of $18.50 and a 52-week high of $39.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.20 and a current ratio of 0.20.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a dividend of $0.45 per share. The ex-dividend date was Monday, October 9th. This represents a $1.80 annualized dividend and a yield of 7.56%. Lincoln National’s dividend payout ratio is 75.95%.

Analysts Set New Price Targets

LNC has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of Lincoln National from $18.00 to $19.00 and gave the company an “underperform” rating in a research note on Thursday, September 14th. Wells Fargo & Company dropped their target price on shares of Lincoln National from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Raymond James started coverage on shares of Lincoln National in a research report on Wednesday, July 26th. They set a “market perform” rating for the company. TheStreet upgraded shares of Lincoln National from a “d+” rating to a “c” rating in a research report on Wednesday, November 1st. Finally, Barclays increased their target price on shares of Lincoln National from $17.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.64.

Lincoln National Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.