Lincoln National Corporation (NYSE:LNC) Short Interest Update

Lincoln National Corporation (NYSE:LNC) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 5,997,197 shares, a growth of 19.9% from the February 26th total of 5,001,782 shares. Currently, 3.2% of the company’s shares are sold short. Based on an average daily volume of 2,482,637 shares, the days-to-cover ratio is currently 2.4 days.

Insider Buying and Selling at Lincoln National

In other news, major shareholder National Life Insuranc Lincoln bought 2,254,486 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was acquired at an average cost of $11.09 per share, with a total value of $25,002,249.74. Following the transaction, the insider directly owned 9,784,322 shares in the company, valued at approximately $108,508,130.98. This trade represents a 29.94% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Waltman Reid sold 3,050 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total value of $127,520.50. Following the transaction, the executive vice president directly owned 118,567 shares in the company, valued at $4,957,286.27. The trade was a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,050 shares of company stock valued at $734,041 in the last ninety days. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Lincoln National

A number of institutional investors have recently made changes to their positions in LNC. Vanguard Group Inc. raised its position in shares of Lincoln National by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider’s stock valued at $802,717,000 after purchasing an additional 1,183,934 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Lincoln National by 145.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 116,116 shares of the financial services provider’s stock worth $4,683,000 after purchasing an additional 68,827 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Lincoln National by 30.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,931 shares of the financial services provider’s stock valued at $8,180,000 after purchasing an additional 47,419 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Lincoln National by 21.1% during the 3rd 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 purchasing an additional 1,035,505 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Lincoln National by 101.9% in the third quarter. Commonwealth Equity Services LLC now owns 285,105 shares of the financial services provider’s stock worth $11,498,000 after buying an additional 143,862 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LNC shares. Mizuho initiated coverage on shares of Lincoln National in a research report on Tuesday, December 16th. They set an “outperform” rating and a $52.00 target price on the stock. Piper Sandler upped their price target on shares of Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. TD Cowen cut their price objective on shares of Lincoln National from $43.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, March 9th. Wells Fargo & Company raised shares of Lincoln National from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $41.00 to $48.00 in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group upped their target price on Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.38.

Lincoln National Stock Up 4.0%

Shares of LNC stock traded up $1.38 during mid-day trading on Tuesday, hitting $35.46. 2,084,869 shares of the stock traded hands, compared to its average volume of 2,345,683. Lincoln National has a 52-week low of $27.58 and a 52-week high of $46.82. The stock has a market cap of $6.74 billion, a P/E ratio of 6.68, a P/E/G ratio of 1.53 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27. The stock’s fifty day moving average is $37.43 and its two-hundred day moving average is $40.25.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.35. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the firm earned $1.91 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities analysts predict that Lincoln National will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.1%. Lincoln National’s dividend payout ratio is presently 33.90%.

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.