Great Lakes Advisors LLC Buys 197,823 Shares of Lincoln National Corporation $LNC

Great Lakes Advisors LLC increased its position in shares of Lincoln National Corporation (NYSE:LNC) by 2,049.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 207,474 shares of the financial services provider’s stock after acquiring an additional 197,823 shares during the quarter. Great Lakes Advisors LLC’s holdings in Lincoln National were worth $8,367,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Lincoln National by 0.7% in the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock valued at $214,504,000 after buying an additional 40,676 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Lincoln National by 21.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider’s stock valued at $240,051,000 after acquiring an additional 1,035,505 shares during the last quarter. First Trust Advisors LP increased its stake in Lincoln National by 20.0% in the second quarter. First Trust Advisors LP now owns 4,645,447 shares of the financial services provider’s stock valued at $160,732,000 after acquiring an additional 774,721 shares during the last quarter. LSV Asset Management raised its position in Lincoln National by 16.9% during the second quarter. LSV Asset Management now owns 2,736,180 shares of the financial services provider’s stock valued at $94,672,000 after purchasing an additional 394,584 shares in the last quarter. Finally, Norges Bank bought a new stake in Lincoln National during the second quarter worth $87,362,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lincoln National news, Director Owen Ryan purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were bought at an average price of $42.17 per share, for a total transaction of $84,340.00. Following the completion of the acquisition, the director owned 12,000 shares in the company, valued at approximately $506,040. This trade represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John Christopher Kennedy sold 3,519 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total transaction of $155,363.85. Following the completion of the sale, the executive vice president directly owned 118,985 shares in the company, valued at approximately $5,253,187.75. This represents a 2.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LNC shares. Zacks Research lowered Lincoln National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Piper Sandler raised their price objective on Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Evercore ISI boosted their target price on Lincoln National from $45.00 to $46.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. TD Cowen reissued a “hold” rating on shares of Lincoln National in a report on Wednesday. Finally, Wells Fargo & Company raised their price target on shares of Lincoln National from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lincoln National has an average rating of “Hold” and a consensus target price of $46.25.

Lincoln National Price Performance

Shares of LNC opened at $41.60 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.61. The stock has a market cap of $7.90 billion, a PE ratio of 3.73, a PEG ratio of 0.43 and a beta of 1.32. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $46.82. The business has a 50-day simple moving average of $43.18 and a two-hundred day simple moving average of $40.87.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.20. Lincoln National had a return on equity of 18.77% and a net margin of 11.49%.The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the business posted $2.06 earnings per share. Analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, January 12th. This represents a $1.80 annualized dividend and a yield of 4.3%. Lincoln National’s dividend payout ratio (DPR) is currently 16.16%.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.