Lincoln National Co. (NYSE:LNC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its position in Lincoln National Co. (NYSE:LNC) by 4,639.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 317,373 shares of the financial services provider’s stock after purchasing an additional 310,677 shares during the period. GAMMA Investing LLC owned 0.19% of Lincoln National worth $11,397,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. M Holdings Securities Inc. acquired a new position in Lincoln National in the fourth quarter worth about $29,000. Kapitalo Investimentos Ltda acquired a new position in Lincoln National in the fourth quarter worth about $32,000. Headlands Technologies LLC acquired a new position in Lincoln National in the fourth quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new position in Lincoln National in the fourth quarter worth about $36,000. Finally, Aster Capital Management DIFC Ltd grew its stake in Lincoln National by 182.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 807 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on LNC. Piper Sandler decreased their price target on Lincoln National from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Morgan Stanley raised their target price on shares of Lincoln National from $32.00 to $38.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Evercore ISI raised their target price on shares of Lincoln National from $41.00 to $44.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Wall Street Zen raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Wells Fargo & Company cut their target price on shares of Lincoln National from $36.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lincoln National has an average rating of “Hold” and a consensus price target of $36.82.

Lincoln National Stock Performance

LNC opened at $33.44 on Friday. The business’s 50 day moving average is $32.32 and its 200-day moving average is $33.91. The stock has a market cap of $5.71 billion, a PE ratio of 1.82, a price-to-earnings-growth ratio of 0.30 and a beta of 1.40. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.80. Lincoln National Co. has a twelve month low of $27.58 and a twelve month high of $39.85.

Lincoln National (NYSE:LNC) last released 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 company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.71 billion. Lincoln National had a return on equity of 18.47% and a net margin of 17.76%. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, analysts predict that Lincoln National Co. will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently declared 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 of this dividend is Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.38%. Lincoln National’s dividend payout ratio (DPR) is presently 25.57%.

Insider Activity

In other Lincoln National news, EVP Sean Woodroffe sold 43,622 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the completion of the sale, the executive vice president now directly owns 154,102 shares in the company, valued at $5,051,463.56. This represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of the company’s stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the sale, the executive vice president now owns 48,743 shares of the company’s stock, valued at $1,613,393.30. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

Lincoln National 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.