Lincoln National Co. (NYSE:LNC) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC increased its position in shares of Lincoln National Co. (NYSE:LNC) by 49.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,150,863 shares of the financial services provider’s stock after purchasing an additional 711,951 shares during the period. AQR Capital Management LLC owned 1.27% of Lincoln National worth $66,892,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in shares of Lincoln National during the 1st quarter worth $25,000. Whittier Trust Co. lifted its position in Lincoln National by 106.7% in 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 during the last quarter. Brown Brothers Harriman & Co. purchased a new position in Lincoln National during the fourth quarter worth about $27,000. Adirondack Trust Co. acquired a new stake in shares of Lincoln National during the second quarter valued at about $31,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Lincoln National in the 4th quarter valued at approximately $35,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Price Performance

Shares of LNC opened at $31.44 on Friday. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 4.30, a PEG ratio of 0.31 and a beta of 1.81. The firm’s fifty day simple moving average is $31.02 and its 200-day simple moving average is $30.58. Lincoln National Co. has a twelve month low of $20.85 and a twelve month high of $36.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 17.13% and a net margin of 12.24%. During the same period last year, the firm earned $2.02 earnings per share. Equities analysts forecast that Lincoln National Co. will post 5.71 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

Wall Street Analysts Forecast Growth

LNC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 2nd. Morgan Stanley cut their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Piper Sandler raised their target price on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Bank of America cut their price target on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Jefferies Financial Group increased their price target 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.64.

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.