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

International Assets Investment Management LLC lifted its stake in shares of Lincoln National Co. (NYSE:LNC) by 3,488.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 966,379 shares of the financial services provider’s stock after buying an additional 939,447 shares during the quarter. International Assets Investment Management LLC owned about 0.57% of Lincoln National worth $30,669,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Eagle Investment Management LLC lifted its position in Lincoln National by 33.0% in the first quarter. First Eagle Investment Management LLC now owns 387,800 shares of the financial services provider’s stock valued at $12,382,000 after acquiring an additional 96,200 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lincoln National by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock valued at $697,825,000 after purchasing an additional 166,167 shares during the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of Lincoln National in the 2nd quarter valued at about $1,095,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lincoln National during the 1st quarter worth approximately $505,000. Finally, SG Americas Securities LLC acquired a new position in Lincoln National during the second quarter worth approximately $673,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

LNC has been the subject of several research analyst reports. Bank of America decreased their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Piper Sandler lowered their price objective 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. Morgan Stanley reduced their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. TD Cowen began coverage on Lincoln National in a report on Wednesday, October 9th. They set a “hold” rating and a $34.00 price target on the stock. Finally, Barclays boosted their price target on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.00.

Lincoln National Trading Up 2.0 %

Shares of LNC stock opened at $32.66 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 current ratio of 0.27 and a quick ratio of 0.27. The business’s fifty day moving average price is $31.48 and its 200 day moving average price is $30.98. The firm has a market capitalization of $5.55 billion, a PE ratio of 4.47, a P/E/G ratio of 0.32 and a beta of 1.81.

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

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 dividend yield of 5.51%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

About Lincoln National

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.