ExodusPoint Capital Management LP acquired a new position in shares of Lincoln National Co. (NYSE:LNC – Get Rating) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 56,910 shares of the financial services provider’s stock, valued at approximately $1,748,000.
Other hedge funds have also modified their holdings of the company. Credit Suisse AG raised its holdings in Lincoln National by 14.5% during the 4th quarter. Credit Suisse AG now owns 473,612 shares of the financial services provider’s stock valued at $14,549,000 after buying an additional 60,086 shares during the period. Geode Capital Management LLC raised its holdings in Lincoln National by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,315,988 shares of the financial services provider’s stock valued at $101,691,000 after buying an additional 26,946 shares during the period. Cipher Capital LP purchased a new stake in Lincoln National during the 4th quarter valued at $543,000. American Century Companies Inc. raised its holdings in Lincoln National by 24.7% during the 4th quarter. American Century Companies Inc. now owns 29,414 shares of the financial services provider’s stock valued at $904,000 after buying an additional 5,829 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Lincoln National by 14.9% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,029 shares of the financial services provider’s stock valued at $800,000 after buying an additional 3,371 shares during the period. 78.00% of the stock is owned by hedge funds and other institutional investors.
Lincoln National Price Performance
Shares of LNC stock opened at $23.10 on Friday. Lincoln National Co. has a 1-year low of $18.50 and a 1-year high of $54.59. The stock’s 50-day moving average is $21.20 and its 200 day moving average is $27.62. The company has a market cap of $3.92 billion, a P/E ratio of -1.20 and a beta of 1.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.19 and a quick ratio of 0.19.
Lincoln National Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date is Friday, July 7th. Lincoln National’s payout ratio is currently -9.38%.
Analysts Set New Price Targets
Several research firms recently weighed in on LNC. Morgan Stanley decreased their price target on Lincoln National from $38.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 12th. Piper Sandler reduced their target price on Lincoln National from $23.00 to $22.00 in a research note on Wednesday, May 3rd. Barclays reduced their target price on Lincoln National from $20.00 to $17.00 in a research note on Wednesday, May 3rd. The Goldman Sachs Group reduced their target price on Lincoln National from $39.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, April 5th. Finally, Royal Bank of Canada reduced their target price on Lincoln National from $31.00 to $26.00 in a research note on Thursday, May 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.43.
Insider Activity at Lincoln National
In other Lincoln National news, Director Gary C. Kelly purchased 7,838 shares of the stock in a transaction on Thursday, May 11th. The stock was acquired at an average price of $25.52 per share, with a total value of $200,025.76. Following the completion of the acquisition, the director now owns 15,007 shares in the company, valued at $382,978.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. 1.55% of the stock is owned by corporate insiders.
Lincoln National Profile
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.
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