Insider Buying: Lincoln National (NYSE:LNC) Major Shareholder Buys $25,002,249.74 in Stock

Lincoln National Corporation (NYSE:LNC) major shareholder National Life Insuranc Lincoln acquired 2,254,486 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were bought at an average cost of $11.09 per share, with a total value of $25,002,249.74. Following the completion of the acquisition, the insider directly owned 9,784,322 shares of the company’s stock, valued at $108,508,130.98. The trade was a 29.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, December 19th, National Life Insuranc Lincoln bought 2,300,098 shares of Lincoln National stock. The stock was bought at an average cost of $10.87 per share, with a total value of $25,002,065.26.

Lincoln National Price Performance

Shares of LNC opened at $34.28 on Monday. The firm has a fifty day simple moving average of $41.63 and a two-hundred day simple moving average of $41.39. 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. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.59. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $46.82.

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

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, April 10th. Lincoln National’s payout ratio is currently 33.90%.

Hedge Funds Weigh In On Lincoln National

Large investors have recently made changes to their positions in the business. Baird Financial Group Inc. bought a new stake in Lincoln National during the 1st quarter valued at approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Lincoln National by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock valued at $2,585,000 after buying an additional 16,991 shares in the last quarter. Empowered Funds LLC raised its position in shares of Lincoln National by 316.9% during the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock valued at $2,123,000 after buying an additional 44,936 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock worth $22,383,000 after buying an additional 29,421 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in shares of Lincoln National by 39.1% during the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 5,486 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LNC shares. National Bank Financial set a $45.00 price objective on shares of Lincoln National in a report on Thursday, January 8th. Piper Sandler boosted their price objective on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Mizuho began coverage on Lincoln National in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 price objective for the company. Wells Fargo & Company upgraded Lincoln National from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $48.00 in a research report on Wednesday, February 25th. Finally, Keefe, Bruyette & Woods boosted their price target on Lincoln National from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Five 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.