Advisors Capital Management LLC Buys 10,569 Shares of Lincoln National Corporation $LNC

Advisors Capital Management LLC boosted its stake in Lincoln National Corporation (NYSE:LNC) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 541,592 shares of the financial services provider’s stock after acquiring an additional 10,569 shares during the quarter. Advisors Capital Management LLC owned 0.32% of Lincoln National worth $19,449,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its position in Lincoln National by 2.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,854,788 shares of the financial services provider’s stock valued at $174,335,000 after acquiring an additional 97,600 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Lincoln National by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider’s stock valued at $110,753,000 after acquiring an additional 208,114 shares in the last quarter. Northern Trust Corp lifted its position in Lincoln National by 6.1% in the 1st quarter. Northern Trust Corp now owns 2,566,274 shares of the financial services provider’s stock valued at $92,155,000 after acquiring an additional 146,667 shares in the last quarter. AQR Capital Management LLC lifted its position in Lincoln National by 84.5% in the 1st quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider’s stock valued at $72,039,000 after acquiring an additional 935,225 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Lincoln National by 0.4% in the 1st quarter. Invesco Ltd. now owns 1,597,913 shares of the financial services provider’s stock valued at $57,381,000 after acquiring an additional 5,936 shares in the last quarter. 72.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on LNC. Cfra Research raised shares of Lincoln National to a “hold” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Lincoln National from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company reiterated a “positive” rating on shares of Lincoln National in a research note on Tuesday, August 5th. Finally, National Bankshares set a $41.00 price target on shares of Lincoln National in a research note on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $39.70.

Lincoln National Stock Down 0.0%

Lincoln National stock opened at $41.56 on Thursday. The firm has a market capitalization of $7.88 billion, a PE ratio of 7.25, a P/E/G ratio of 0.57 and a beta of 1.48. The company’s 50-day moving average is $38.27 and its 200-day moving average is $35.30. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $43.66. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.45. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period in the previous year, the business earned $1.87 EPS. Sell-side analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Lincoln National’s payout ratio is currently 31.41%.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president directly owned 123,815 shares in the company, valued at $4,864,691.35. The trade was a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is owned by corporate insiders.

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.