XTX Topco Ltd Makes New $1.20 Million Investment in Lincoln National Co. (NYSE:LNC)

XTX Topco Ltd bought a new stake in Lincoln National Co. (NYSE:LNC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,449 shares of the financial services provider’s stock, valued at approximately $1,196,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in Lincoln National in the 1st quarter valued at about $25,000. Whittier Trust Co. grew 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 worth $26,000 after buying an additional 431 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in Lincoln National during the 4th quarter worth $27,000. Adirondack Trust Co. acquired a new position in Lincoln National in the 2nd quarter valued at $31,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Lincoln National during the 4th quarter valued at $35,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LNC has been the subject of a number of analyst reports. Morgan Stanley dropped their price target on 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. Jefferies Financial Group boosted their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Barclays began coverage on shares of Lincoln National in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $35.00 price target on the stock. Piper Sandler boosted their price objective on shares of Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. lifted their target price on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 2nd. One research 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 MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and an average target price of $32.64.

Lincoln National Stock Up 0.1 %

NYSE:LNC opened at $31.94 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. Lincoln National Co. has a one year low of $20.85 and a one year high of $36.46. The firm’s 50 day simple moving average is $31.14 and its 200 day simple moving average is $30.38. The company has a market cap of $5.43 billion, a PE ratio of 4.37, a P/E/G ratio of 0.29 and a beta of 1.81.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data 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. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. During the same quarter in the previous year, the firm posted $2.02 earnings per share. On average, 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 disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 24.62%.

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.