Assenagon Asset Management S.A. Has $18.91 Million Stock Holdings in Lincoln National Co. (NYSE:LNC)

Assenagon Asset Management S.A. increased its position in Lincoln National Co. (NYSE:LNC) by 167.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 600,212 shares of the financial services provider’s stock after purchasing an additional 375,989 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Lincoln National were worth $18,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in shares of Lincoln National during the first quarter worth approximately $25,000. Whittier Trust Co. raised its position in shares of Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 431 shares during the last quarter. Adirondack Trust Co. acquired a new position in shares of Lincoln National in the 2nd quarter valued at $31,000. Blue Trust Inc. boosted its position in shares of Lincoln National by 535.5% in the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 905 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Lincoln National by 249.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 873 shares during the period. 72.81% of the stock is owned by institutional investors.

Lincoln National Stock Performance

Shares of LNC stock opened at $32.02 on Friday. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 3.38, a PEG ratio of 0.32 and a beta of 1.81. 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. has a 52 week low of $20.85 and a 52 week high of $36.46. The company has a 50-day simple moving average of $31.45 and a 200 day simple moving average of $30.94.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.77 by $0.07. The company had revenue of $5.15 billion for 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 in the prior year, the business earned $2.02 earnings per share. On average, sell-side analysts predict that Lincoln National Co. will post 5.73 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 18.99%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LNC shares. Morgan Stanley lowered 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. Bank of America lowered their target price on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Barclays lifted their price target on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Piper Sandler dropped their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their target price on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Lincoln National has an average rating of “Hold” and an average price target of $33.00.

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.