Assenagon Asset Management S.A. Has $18.91 Million Stake in Lincoln National Co. (NYSE:LNC)

Assenagon Asset Management S.A. grew its stake in Lincoln National Co. (NYSE:LNC) by 167.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 600,212 shares of the financial services provider’s stock after buying an additional 375,989 shares during the period. Assenagon Asset Management S.A. owned approximately 0.35% of Lincoln National worth $18,913,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LNC. First Eagle Investment Management LLC grew its holdings in Lincoln National by 33.0% during the first quarter. First Eagle Investment Management LLC now owns 387,800 shares of the financial services provider’s stock valued at $12,382,000 after purchasing an additional 96,200 shares during the last quarter. Vanguard Group Inc. raised its holdings in Lincoln National by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock worth $697,825,000 after acquiring an additional 166,167 shares during the period. Ellis Investment Partners LLC acquired a new position in Lincoln National during the 2nd quarter worth $1,095,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Lincoln National during the first quarter valued at about $505,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Lincoln National in the second quarter valued at about $673,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Stock Down 2.3 %

LNC opened at $32.02 on Friday. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 3.38, a PEG ratio of 0.32 and a beta of 1.81. 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 firm’s 50-day simple moving average is $31.45 and its 200-day simple moving average is $30.94. Lincoln National Co. has a twelve month low of $20.85 and a twelve month 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.07. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same quarter in the previous year, the company posted $2.02 EPS. Equities research analysts anticipate that Lincoln National Co. will post 5.73 EPS 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 given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.62%. The ex-dividend date is Thursday, October 10th. Lincoln National’s payout ratio is presently 18.99%.

Wall Street Analyst Weigh In

LNC has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 2nd. Piper Sandler lowered their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Bank of America cut their target price on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. StockNews.com cut shares of Lincoln National from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Finally, Wells Fargo & Company upped their price target on Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.00.

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.