Axa S.A. Takes Position in Lincoln National Co. (NYSE:LNC)

Axa S.A. bought a new position in shares of Lincoln National Co. (NYSE:LNC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 110,603 shares of the financial services provider’s stock, valued at approximately $6,950,000. Axa S.A. owned approximately 0.06% of Lincoln National as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of LNC. MML Investors Services LLC boosted its holdings in shares of Lincoln National by 4.0% in the 1st quarter. MML Investors Services LLC now owns 5,292 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 205 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Lincoln National by 0.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 35,749 shares of the financial services provider’s stock valued at $2,246,000 after acquiring an additional 208 shares during the last quarter. Norinchukin Bank The raised its position in Lincoln National by 3.9% during the 1st quarter. Norinchukin Bank The now owns 5,570 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 210 shares during the last quarter. Independent Advisor Alliance raised its position in Lincoln National by 2.8% during the 2nd quarter. Independent Advisor Alliance now owns 9,324 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 250 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its position in Lincoln National by 0.8% during the 2nd quarter. Great Lakes Advisors LLC now owns 32,614 shares of the financial services provider’s stock valued at $2,049,000 after purchasing an additional 252 shares during the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.

LNC has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Lincoln National from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Monday, August 9th. Morgan Stanley increased their price target on Lincoln National from $73.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 5th. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating and set a $73.00 price target on the stock. in a report on Tuesday, October 5th. increased their price target on Lincoln National from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, June 21st. Finally, Piper Sandler decreased their target price on Lincoln National from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, July 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.57.

In other news, CEO Dennis R. Glass sold 150,000 shares of the firm’s stock in a transaction dated Monday, September 27th. The stock was sold at an average price of $72.05, for a total transaction of $10,807,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.89% of the company’s stock.

NYSE:LNC opened at $71.11 on Thursday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.29. The business’s 50-day simple moving average is $68.40 and its two-hundred day simple moving average is $65.97. The stock has a market cap of $13.36 billion, a PE ratio of 9.81, a P/E/G ratio of 0.16 and a beta of 2.24. Lincoln National Co. has a 52 week low of $31.95 and a 52 week high of $74.63.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 4th. The financial services provider reported $3.17 EPS for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.87. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.79 billion. Lincoln National had a return on equity of 5.47% and a net margin of 7.43%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same period last year, the firm earned $0.97 earnings per share. Sell-side analysts anticipate that Lincoln National Co. will post 10.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Monday, October 11th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, October 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.36%. Lincoln National’s payout ratio is 37.75%.

About Lincoln National

Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. The company operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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