Axa S.A. Buys Shares of 64,553 Lincoln National Co. (NYSE:LNC)

Axa S.A. purchased a new position in shares of Lincoln National Co. (NYSE:LNC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 64,553 shares of the financial services provider’s stock, valued at approximately $2,008,000.

A number of other large investors have also made changes to their positions in the stock. Central Pacific Bank Trust Division acquired a new position in Lincoln National during the first quarter worth about $25,000. Whittier Trust Co. grew its holdings in shares of Lincoln National by 106.7% in the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 431 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Lincoln National in the 4th quarter valued at approximately $27,000. Adirondack Trust Co. acquired a new position in Lincoln National during the second quarter worth $31,000. Finally, Transcendent Capital Group LLC purchased a new stake in Lincoln National during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Price Performance

Lincoln National stock opened at $31.51 on Tuesday. Lincoln National Co. has a 1 year low of $20.85 and a 1 year high of $36.46. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a 50 day moving average price of $31.00 and a 200 day moving average price of $30.66. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 4.31, a PEG ratio of 0.31 and a beta of 1.81.

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, beating the consensus estimate of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the company earned $2.02 EPS. Sell-side analysts predict that Lincoln National Co. will post 5.71 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, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 24.62%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LNC. Barclays initiated coverage on Lincoln National in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $35.00 price target for the company. Piper Sandler upped their price target on shares of Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their price target on shares of Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group lifted their price objective on Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Morgan Stanley lowered their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.64.

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.