Insider Buying: Lincoln National (NYSE:LNC) Major Shareholder Acquires $25,002,065.26 in Stock

Lincoln National Corporation (NYSE:LNC) major shareholder National Life Insuranc Lincoln bought 2,300,098 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were purchased at an average cost of $10.87 per share, with a total value of $25,002,065.26. Following the transaction, the insider directly owned 7,529,837 shares of the company’s stock, valued at $81,849,328.19. The trade was a 43.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

National Life Insuranc Lincoln also recently made the following trade(s):

• On Wednesday, February 25th, National Life Insuranc Lincoln purchased 2,254,486 shares of Lincoln National stock. The shares were acquired at an average cost of $11.09 per share, for a total transaction of $25,002,249.74.

Lincoln National Stock Performance

Shares of LNC opened at $34.28 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.59. The firm has a market cap of $6.52 billion, a PE ratio of 6.46, a P/E/G ratio of 1.54 and a beta of 1.30. Lincoln National Corporation has a 12 month low of $27.58 and a 12 month high of $46.82. The stock has a fifty day moving average price of $41.63 and a 200-day moving average price of $41.39.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.35. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the company posted $1.91 EPS. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, April 10th. Lincoln National’s dividend payout ratio (DPR) is presently 33.90%.

Institutional Trading of Lincoln National

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Lincoln National by 6.3% during the third quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider’s stock valued at $802,717,000 after acquiring an additional 1,183,934 shares in the last quarter. Bain Capital Prairie LLC purchased a new stake in Lincoln National in the 4th quarter worth approximately $835,360,000. Dimensional Fund Advisors LP grew its stake in shares of Lincoln National by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,233,327 shares of the financial services provider’s stock worth $277,574,000 after purchasing an additional 502,600 shares during the period. State Street Corp increased its holdings in shares of Lincoln National by 0.7% during the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock valued at $214,504,000 after purchasing an additional 40,676 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Lincoln National by 21.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider’s stock valued at $240,051,000 after purchasing an additional 1,035,505 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LNC. Weiss Ratings reissued a “buy (b-)” rating on shares of Lincoln National in a research report on Monday, December 29th. National Bank Financial set a $45.00 target price on Lincoln National in a research report on Thursday, January 8th. Keefe, Bruyette & Woods lifted their price target on Lincoln National from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Mizuho assumed coverage on Lincoln National in a research note on Tuesday, December 16th. They set an “outperform” rating and a $52.00 price target on the stock. Finally, Jefferies Financial Group increased their price objective on Lincoln National from $52.00 to $59.00 and gave the company a “buy” rating in a report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.58.

Lincoln National Company 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.