Choreo LLC Buys New Holdings in Lincoln National Co. (NYSE:LNC)

Choreo LLC bought a new stake in Lincoln National Co. (NYSE:LNC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,723 shares of the financial services provider’s stock, valued at approximately $555,000.

Other hedge funds have also recently added to or reduced their stakes in the company. PFG Investments LLC increased its stake in Lincoln National by 75.8% in the second quarter. PFG Investments LLC now owns 18,055 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 7,787 shares during the last quarter. Oak Thistle LLC purchased a new position in Lincoln National in the second quarter valued at approximately $363,000. Triasima Portfolio Management inc. increased its stake in Lincoln National by 2.4% in the second quarter. Triasima Portfolio Management inc. now owns 103,935 shares of the financial services provider’s stock valued at $3,232,000 after purchasing an additional 2,395 shares during the last quarter. Ellis Investment Partners LLC purchased a new position in Lincoln National in the second quarter valued at approximately $1,095,000. Finally, Loudon Investment Management LLC increased its stake in Lincoln National by 4.8% in the second quarter. Loudon Investment Management LLC now owns 120,234 shares of the financial services provider’s stock valued at $3,739,000 after purchasing an additional 5,560 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Price Performance

Lincoln National stock opened at $29.45 on Friday. Lincoln National Co. has a one year low of $20.85 and a one year high of $36.46. 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 business has a fifty day moving average of $31.20 and a two-hundred day moving average of $30.32. The company has a market cap of $5.01 billion, a P/E ratio of 4.03, a price-to-earnings-growth ratio of 0.29 and a beta of 1.81.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The company 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 last year, the company earned $2.02 earnings per share. As a group, analysts predict that Lincoln National Co. will post 5.74 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.11%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s payout ratio is 24.62%.

Analysts Set New Price Targets

Several brokerages have commented on LNC. Barclays initiated coverage on shares of Lincoln National in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price target on the stock. Jefferies Financial Group raised their target price on shares of Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Bank of America lowered their target price on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Morgan Stanley lowered their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, Piper Sandler raised their target price on shares of Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report 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’s stock. According to data from MarketBeat.com, Lincoln National presently has a consensus rating of “Hold” and a consensus price target of $32.64.

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.