Holderness Investments Co. acquires 2,033 shares of Lincoln National Co. (NYSE:LNC)

Holderness Investments Co. increased its stake in Lincoln National Co. (NYSE:LNC – Free Report) by 14.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,721 shares of the financial services provider’s stock after acquiring an additional 2,033 shares during the period. Holdings of Holderness Investments Co. in Lincoln National were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Central Pacific Bank Trust Division bought a new position in shares of Lincoln National in the first quarter worth $25,000. Whittier Trust Co. raised its position in Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after buying an additional 431 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Lincoln National during the fourth quarter valued at about $27,000. Adirondack Trust Co. bought a new stake in Lincoln National in the second quarter valued at about $31,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Lincoln National during the 4th quarter valued at about $35,000. 72.81% of the shares are held by hedge funds and other institutional investors.

Lincoln National Price Performance

Shares of LNC stock opened at $31.93 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. Lincoln National Co. it has a fifty-two week low of $20.85 and a fifty-two week high of $36.46. The firm has a market cap of $5.43 billion, a P/E ratio of 4.37, a P/E/G ratio of 0.29 and a beta of 1.81. The company’s 50-day moving average price is $31.13 and its 200-day moving average price is $30.45.

Lincoln National (NYSE:LNC – Get Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.65 billion. In the same quarter last year, the company posted earnings of $2.02 per share. On average, equities research analysts anticipate that Lincoln National Co. will post 5.74 earnings per share for the current year.

Lincoln National announces dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.45 per share. This represents an annualized dividend of $1.80 and a dividend yield of 5.64%. The ex-dividend date is Thursday, October 10. Lincoln National’s dividend yield is currently 24.62%.

The Wall Street analyst weighs in

Several analysts have issued reports on LNC shares. Piper Sandler boosted their price target on Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. boosted their price objective on shares of Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Morgan Stanley cut their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Barclays began coverage on Lincoln National in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $35.00 price objective on the stock. Finally, Jefferies Financial Group boosted their price target on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $32.64, according to MarketBeat.

Check out our latest analysis of LNC

About Lincoln National

(Free Report)

Lincoln National Corporation, through its subsidiaries, operates several insurance and pension businesses in the United States. It operates in four segments: life insurance, annuities, group protection and retirement plan services. The Life Insurance segment offers life insurance products including term insurance, universal life (UL), indexed universal life, variable universal life (VUL), UL and linked benefit VUL products and customers for critical illness and long-term care.

Further reading

Want to see what other hedge funds own LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Lincoln National Co. (NYSE:LNC – Free Report).

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