Daiwa Securities Group Inc. Acquires 690 Shares of Lincoln National Co. (NYSE:LNC)

Posted by on May 6th, 2023

Daiwa Securities Group Inc. raised its holdings in Lincoln National Co. (NYSE:LNC – Get Rating) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,312 shares of the financial services provider’s stock after acquiring an additional 690 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lincoln National were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LNC. Boyd Watterson Asset Management LLC OH acquired a new position in shares of Lincoln National in the 4th quarter valued at $26,000. Achmea Investment Management B.V. bought a new stake in Lincoln National in the first quarter valued at about $30,000. Ronald Blue Trust Inc. lifted its stake in Lincoln National by 134.2% in the fourth quarter. Ronald Blue Trust Inc. now owns 712 shares of the financial services provider’s stock valued at $31,000 after buying an additional 408 shares during the period. Byrne Asset Management LLC bought a new position in Lincoln National during the fourth quarter worth about $31,000. Finally, General Partner Inc. acquired a new position in shares of Lincoln National during the 4th quarter worth about $36,000. 78.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Lincoln National from $35.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. The Goldman Sachs Group reduced their price target on shares of Lincoln National from $39.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. Barclays lowered their price objective on shares of Lincoln National from $20.00 to $17.00 in a research report on Wednesday. Morgan Stanley dropped their price objective on Lincoln National from $38.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 12th. Finally, Piper Sandler decreased their target price on Lincoln National from $23.00 to $22.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Lincoln National has a consensus rating of “Hold” and a consensus price target of $31.79.

Lincoln National Stock Performance

Shares of LNC opened at $20.46 on Friday. Lincoln National Co. has a 12 month low of $18.74 and a 12 month high of $59.16. The firm has a fifty day simple moving average of $22.97 and a 200 day simple moving average of $31.35. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -1.55 and a beta of 1.76. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.66.

Lincoln National (NYSE:LNC – Get Rating) last announced its earnings results on Wednesday, February 8th. The financial services provider reported $0.97 EPS for the quarter, missing the consensus estimate of $1.89 by ($0.92). The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.52 billion. Lincoln National had a negative return on equity of 11.85% and a negative net margin of 11.89%. Research analysts forecast that Lincoln National Co. will post 8.21 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, April 10th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 8.80%. The ex-dividend date was Thursday, April 6th. Lincoln National’s dividend payout ratio is currently -13.60%.

About Lincoln National

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.

Further Reading

Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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