Massachusetts Financial Services Co. MA Buys 1,035,505 Shares of Lincoln National Corporation $LNC

Massachusetts Financial Services Co. MA boosted its position in Lincoln National Corporation (NYSE:LNC) by 21.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,952,166 shares of the financial services provider’s stock after acquiring an additional 1,035,505 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.14% of Lincoln National worth $240,051,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Lincoln National by 30.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,931 shares of the financial services provider’s stock valued at $8,180,000 after buying an additional 47,419 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Lincoln National by 145.5% during the third quarter. Nisa Investment Advisors LLC now owns 116,116 shares of the financial services provider’s stock worth $4,683,000 after acquiring an additional 68,827 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Lincoln National by 101.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 285,105 shares of the financial services provider’s stock worth $11,498,000 after acquiring an additional 143,862 shares during the last quarter. Jump Financial LLC lifted its holdings in shares of Lincoln National by 72.9% in the 2nd quarter. Jump Financial LLC now owns 245,776 shares of the financial services provider’s stock worth $8,504,000 after acquiring an additional 103,591 shares during the last quarter. Finally, Focus Financial Network Inc. purchased a new stake in shares of Lincoln National in the 2nd quarter valued at $260,000. Institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lincoln National in a research report on Monday, December 29th. UBS Group raised their price objective on Lincoln National from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Keefe, Bruyette & Woods lifted their price objective on Lincoln National from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. National Bankshares set a $45.00 target price on Lincoln National in a report on Thursday, January 8th. Finally, Barclays raised their price target on Lincoln National from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.25.

Lincoln National Trading Down 1.4%

NYSE LNC opened at $40.93 on Tuesday. The stock has a market cap of $7.77 billion, a P/E ratio of 3.67, a price-to-earnings-growth ratio of 0.41 and a beta of 1.32. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $46.82. The stock has a 50 day simple moving average of $43.11 and a two-hundred day simple moving average of $40.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.28 and a current ratio of 0.28.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, October 30th. The financial services provider reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.20. Lincoln National had a return on equity of 18.77% and a net margin of 11.49%.The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the company earned $2.06 earnings per share. On average, analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.45 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.80 annualized dividend and a yield of 4.4%. Lincoln National’s dividend payout ratio is 16.16%.

Insider Activity

In related news, Director Owen Ryan purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average cost of $42.17 per share, with a total value of $84,340.00. Following the completion of the purchase, the director directly owned 12,000 shares in the company, valued at approximately $506,040. This represents a 20.00% increase 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 John Christopher Kennedy sold 3,519 shares of Lincoln National stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total value of $155,363.85. Following the sale, the executive vice president directly owned 118,985 shares in the company, valued at approximately $5,253,187.75. The trade was a 2.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company’s stock.

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.