International Assets Investment Management LLC Grows Stock Position in Lincoln National Co. (NYSE:LNC)

International Assets Investment Management LLC raised its holdings in shares of Lincoln National Co. (NYSE:LNC) by 3,488.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 966,379 shares of the financial services provider’s stock after purchasing an additional 939,447 shares during the period. International Assets Investment Management LLC’s holdings in Lincoln National were worth $30,669,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Central Pacific Bank Trust Division purchased a new position in shares of Lincoln National during the 1st quarter worth approximately $25,000. Whittier Trust Co. increased its position in Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after buying an additional 431 shares in the last quarter. Adirondack Trust Co. acquired a new position in shares of Lincoln National in the second quarter worth $31,000. Blue Trust Inc. lifted its position in shares of Lincoln National by 535.5% in the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 905 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Lincoln National by 249.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 873 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

NYSE LNC opened at $32.66 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. Lincoln National Co. has a 1-year low of $20.85 and a 1-year high of $36.46. The firm has a market capitalization of $5.55 billion, a P/E ratio of 4.47, a P/E/G ratio of 0.32 and a beta of 1.81. The business’s 50-day simple moving average is $31.48 and its 200-day simple moving average is $30.98.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the company posted $2.02 earnings per share. Equities analysts predict that Lincoln National Co. will post 5.73 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.51%. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LNC. Barclays upped their target price on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Piper Sandler decreased their target price on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley lowered their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their target price on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

Lincoln National Company 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.