Elo Mutual Pension Insurance Co Purchases 21,437 Shares of Lincoln National Corporation $LNC

Elo Mutual Pension Insurance Co increased its position in Lincoln National Corporation (NYSE:LNC) by 98.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,165 shares of the financial services provider’s stock after purchasing an additional 21,437 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Lincoln National were worth $1,741,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LNC. Royce & Associates LP lifted its stake in shares of Lincoln National by 19.6% in the third quarter. Royce & Associates LP now owns 48,299 shares of the financial services provider’s stock valued at $1,948,000 after buying an additional 7,932 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Lincoln National in the 3rd quarter worth about $127,000. Erste Asset Management GmbH bought a new position in Lincoln National in the 3rd quarter valued at about $1,165,000. Handelsbanken Fonder AB boosted its stake in Lincoln National by 2.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 53,000 shares of the financial services provider’s stock valued at $2,137,000 after purchasing an additional 1,100 shares during the last quarter. Finally, TIAA Trust National Association increased its holdings in Lincoln National by 3.8% during the 3rd quarter. TIAA Trust National Association now owns 11,686 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LNC shares. Morgan Stanley cut their target price on Lincoln National from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Tuesday. National Bank Financial set a $45.00 price objective on Lincoln National in a research note on Thursday, January 8th. Wells Fargo & Company upgraded shares of Lincoln National from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $41.00 to $48.00 in a research note on Wednesday, February 25th. TD Cowen reissued a “hold” rating on shares of Lincoln National in a research report on Wednesday, January 28th. Finally, Mizuho started coverage on shares of Lincoln National in a report on Tuesday, December 16th. They set an “outperform” rating and a $52.00 price target on the stock. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.25.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $35.07 on Thursday. The company has a market capitalization of $6.67 billion, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 1.52 and a beta of 1.30. The company’s 50-day moving average is $40.94 and its 200 day moving average is $41.25. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $46.82.

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

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be paid a $0.45 dividend. The ex-dividend date is Friday, April 10th. This represents a $1.80 annualized dividend and a yield of 5.1%. Lincoln National’s dividend payout ratio is presently 33.90%.

Insider Transactions at Lincoln National

In other news, EVP James Waltman Reid sold 3,050 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total transaction of $127,520.50. Following the completion of the transaction, the executive vice president owned 118,567 shares in the company, valued at approximately $4,957,286.27. This represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Christopher Kennedy sold 3,519 shares of Lincoln National stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the completion of the sale, the executive vice president directly owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. This trade represents a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,569 shares of company stock valued at $627,484 in the last three months. 0.51% of the stock is currently owned by company insiders.

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.