Dimensional Fund Advisors LP Buys 1,157,599 Shares of Lincoln National Corporation $LNC

Dimensional Fund Advisors LP raised its stake in Lincoln National Corporation (NYSE:LNC) by 25.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,730,727 shares of the financial services provider’s stock after purchasing an additional 1,157,599 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Lincoln National were worth $231,121,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Baird Financial Group Inc. bought a new stake in shares of Lincoln National during the 1st quarter worth approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Lincoln National by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock valued at $2,585,000 after buying an additional 16,991 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Lincoln National by 316.9% in the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock valued at $2,123,000 after buying an additional 44,936 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Lincoln National by 5.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock worth $22,383,000 after buying an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in Lincoln National by 39.1% during the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock worth $701,000 after buying an additional 5,486 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

LNC has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Lincoln National from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $41.00 to $48.00 in a research note on Wednesday, February 25th. TD Cowen restated a “hold” rating on shares of Lincoln National in a research note on Wednesday, January 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln National in a report on Monday, December 29th. National Bank Financial set a $45.00 price target on Lincoln National in a report on Thursday, January 8th. Finally, Piper Sandler boosted their price target on Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.25.

Insider Transactions at Lincoln National

In related news, 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 value of $155,363.85. Following the completion of the sale, the executive vice president directly owned 118,985 shares in the company, valued at $5,253,187.75. The trade was a 2.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder National Life Insuranc Lincoln acquired 2,300,098 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was purchased at an average cost of $10.87 per share, for a total transaction of $25,002,065.26. Following the completion of the acquisition, the insider owned 7,529,837 shares in the company, valued at approximately $81,849,328.19. This represents a 43.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 16,569 shares of company stock worth $627,484 over the last three months. Company insiders own 0.51% of the company’s stock.

Lincoln National Stock Performance

NYSE LNC opened at $34.03 on Friday. The stock has a market cap of $6.47 billion, a PE ratio of 6.41, a P/E/G ratio of 1.52 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a 50-day moving average of $40.49 and a 200-day moving average of $41.17. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $46.82.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.35. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. Lincoln National’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 EPS. On average, sell-side analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. Lincoln National’s dividend payout ratio is presently 33.90%.

Lincoln National Company Profile

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.