First Eagle Investment Management LLC Acquires 55,900 Shares of Lincoln National Co. (NYSE:LNC)

First Eagle Investment Management LLC lifted its holdings in Lincoln National Co. (NYSE:LNC) by 14.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 443,700 shares of the financial services provider’s stock after acquiring an additional 55,900 shares during the period. First Eagle Investment Management LLC owned 0.26% of Lincoln National worth $13,799,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LNC. Fifth Third Bancorp grew its holdings in Lincoln National by 1.6% during the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after acquiring an additional 420 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in shares of Lincoln National by 4.4% during the second quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock valued at $312,000 after purchasing an additional 426 shares in the last quarter. Whittier Trust Co. increased its holdings in Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after buying an additional 431 shares during the period. National Bank of Canada FI raised its stake in Lincoln National by 1.0% in the second quarter. National Bank of Canada FI now owns 45,854 shares of the financial services provider’s stock worth $1,435,000 after buying an additional 468 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. lifted its holdings in Lincoln National by 0.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 84,712 shares of the financial services provider’s stock worth $2,635,000 after buying an additional 495 shares during the period. 72.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

LNC has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Bank of America decreased their price target on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Piper Sandler lifted their price objective on shares of Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Barclays assumed coverage on shares of Lincoln National in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.64.

Lincoln National Price Performance

NYSE LNC opened at $31.92 on Friday. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 4.37, a PEG ratio of 0.29 and a beta of 1.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. The stock’s fifty day moving average price is $31.14 and its 200 day moving average price is $30.37. Lincoln National Co. has a 1 year low of $20.85 and a 1 year high of $36.46.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.07. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period last year, the business posted $2.02 earnings per share. As a group, equities research analysts forecast that Lincoln National Co. will post 5.74 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s payout ratio is 24.62%.

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.