1,280 Shares in Lincoln National Co. (NYSE:LNC) Bought by Eastern Bank

Eastern Bank acquired a new position in shares of Lincoln National Co. (NYSE:LNC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,280 shares of the financial services provider’s stock, valued at approximately $40,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Lincoln National by 4,737.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 98,887 shares of the financial services provider’s stock valued at $3,116,000 after purchasing an additional 96,843 shares during the period. OLD National Bancorp IN lifted its stake in shares of Lincoln National by 4.0% in the 3rd quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 325 shares during the period. Raymond James & Associates lifted its stake in shares of Lincoln National by 2.6% in the 3rd quarter. Raymond James & Associates now owns 159,899 shares of the financial services provider’s stock valued at $5,038,000 after purchasing an additional 4,005 shares during the period. Blue Trust Inc. lifted its stake in shares of Lincoln National by 535.5% in the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 905 shares during the period. Finally, BOS Asset Management LLC lifted its stake in shares of Lincoln National by 10.1% in the 3rd quarter. BOS Asset Management LLC now owns 10,561 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 973 shares during the period. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

Shares of LNC opened at $32.02 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a 50 day moving average price of $31.45 and a two-hundred day moving average price of $30.94. The firm has a market capitalization of $5.45 billion, a P/E ratio of 3.38, a P/E/G ratio of 0.32 and a beta of 1.81. Lincoln National Co. has a 52 week low of $20.85 and a 52 week high of $36.46.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period in the previous year, the company posted $2.02 EPS. Equities analysts forecast that Lincoln National Co. will post 5.73 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 18.99%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LNC shares. Barclays boosted their price objective on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. TD Cowen started coverage on Lincoln National in a research report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 target price for the company. Piper Sandler decreased their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, StockNews.com lowered Lincoln National from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National currently has an average rating of “Hold” and an average price target of $33.00.

Lincoln National 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.