Geode Capital Management LLC Purchases 14,842 Shares of Lincoln National Corporation $LNC

Geode Capital Management LLC increased its position in Lincoln National Corporation (NYSE:LNC) by 0.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,959,195 shares of the financial services provider’s stock after acquiring an additional 14,842 shares during the period. Geode Capital Management LLC’s holdings in Lincoln National were worth $131,801,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. JPL Wealth Management LLC bought a new stake in shares of Lincoln National in the third quarter worth $29,000. V Square Quantitative Management LLC bought a new stake in shares of Lincoln National in the fourth quarter worth $31,000. Laurel Wealth Advisors LLC bought a new stake in shares of Lincoln National in the fourth quarter worth $38,000. Larson Financial Group LLC grew its holdings in shares of Lincoln National by 61.8% in the third quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 391 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in shares of Lincoln National in the third quarter worth $48,000. Institutional investors own 72.81% of the company’s stock.

Insider Activity at Lincoln National

In other news, EVP Sean Woodroffe sold 8,000 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $32.74, for a total value of $261,920.00. Following the transaction, the executive vice president directly owned 198,159 shares in the company, valued at $6,487,725.66. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LNC has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Lincoln National from $43.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. TD Cowen cut their price target on Lincoln National from $43.00 to $38.00 and set a “hold” rating for the company in a report on Monday, March 9th. Morgan Stanley cut their price target on Lincoln National from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. National Bank Financial set a $40.00 price target on Lincoln National in a report on Thursday, May 21st. Finally, JPMorgan Chase & Co. cut their price target on Lincoln National from $42.00 to $40.00 and set an “underweight” rating for the company in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.00.

Lincoln National Stock Performance

NYSE:LNC opened at $34.06 on Friday. The stock has a 50-day simple moving average of $35.58 and a two-hundred day simple moving average of $38.74. Lincoln National Corporation has a 52-week low of $31.69 and a 52-week high of $46.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a market capitalization of $6.51 billion, a PE ratio of 3.95, a P/E/G ratio of 2.15 and a beta of 1.17.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. Lincoln National’s revenue for the quarter was up 13.1% on a year-over-year basis. Analysts forecast that Lincoln National Corporation will post 7.72 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National’s payout ratio is currently 20.88%.

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.