Jennison Associates LLC Invests $43.69 Million in Lincoln National Corporation $LNC

Jennison Associates LLC acquired a new position in shares of Lincoln National Corporation (NYSE:LNC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,262,613 shares of the financial services provider’s stock, valued at approximately $43,686,000.

Other hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management lifted its stake in Lincoln National by 383.2% in the first quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 594 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Lincoln National in the second quarter worth $29,000. Brooklyn Investment Group lifted its stake in Lincoln National by 82.9% in the first quarter. Brooklyn Investment Group now owns 1,156 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 524 shares during the last quarter. Friedenthal Financial bought a new stake in Lincoln National in the second quarter worth $42,000. Finally, CX Institutional lifted its stake in Lincoln National by 354.2% in the second quarter. CX Institutional now owns 1,685 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 1,314 shares during the last quarter. 72.81% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP John Christopher Kennedy sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares in the company, valued at $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on LNC. Morgan Stanley lowered their price target on shares of Lincoln National from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Piper Sandler reiterated a “neutral” rating and set a $42.00 price target on shares of Lincoln National in a report on Tuesday, October 7th. National Bankshares set a $53.00 price objective on shares of Lincoln National in a research report on Tuesday, October 7th. Wall Street Zen upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Lincoln National in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $43.09.

Lincoln National Price Performance

LNC stock opened at $40.74 on Friday. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $43.66. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $40.75 and its two-hundred day moving average price is $36.55. The stock has a market capitalization of $7.72 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 0.50 and a beta of 1.43.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.20. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the company earned $2.06 earnings per share. As a group, equities analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. Lincoln National’s payout ratio is currently 31.41%.

Lincoln National Company Profile

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.