Investors Purchase Large Volume of Lincoln National Call Options (NYSE:LNC)


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Lincoln National Co. (NYSE:LNC) was the target of unusually large options trading activity on Thursday. Investors acquired 16,864 call options on the stock. This represents an increase of approximately 1,321% compared to the typical volume of 1,187 call options.

In related news, CAO Christine A. Janofsky sold 7,413 shares of the stock in a transaction dated Tuesday, February 23rd. The shares were sold at an average price of $56.25, for a total transaction of $416,981.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,216 shares of the company’s stock, valued at $799,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Dodge & Cox boosted its position in Lincoln National by 0.4% during the fourth quarter. Dodge & Cox now owns 5,833,207 shares of the financial services provider’s stock worth $293,469,000 after acquiring an additional 21,150 shares during the last quarter. Lyrical Asset Management LP boosted its position in Lincoln National by 1.8% during the fourth quarter. Lyrical Asset Management LP now owns 4,787,566 shares of the financial services provider’s stock worth $240,862,000 after acquiring an additional 85,943 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Lincoln National by 8.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,634,940 shares of the financial services provider’s stock worth $132,559,000 after acquiring an additional 198,350 shares during the last quarter. Norges Bank acquired a new stake in Lincoln National during the fourth quarter worth approximately $111,993,000. Finally, Morgan Stanley boosted its holdings in shares of Lincoln National by 15.4% in the 4th quarter. Morgan Stanley now owns 1,919,818 shares of the financial services provider’s stock valued at $96,586,000 after purchasing an additional 256,549 shares during the last quarter. Institutional investors and hedge funds own 76.74% of the company’s stock.

Several research analysts recently issued reports on the stock. B. Riley increased their price target on shares of Lincoln National from $35.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, January 7th. Keefe, Bruyette & Woods cut shares of Lincoln National from an “outperform” rating to a “market perform” rating and set a $56.00 price target for the company. in a report on Wednesday, December 16th. Morgan Stanley increased their target price on shares of Lincoln National from $60.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 1st. JPMorgan Chase & Co. increased their target price on shares of Lincoln National from $63.00 to $73.00 and gave the company an “overweight” rating in a report on Monday. Finally, Credit Suisse Group cut shares of Lincoln National from an “outperform” rating to an “underperform” rating and increased their target price for the company from $45.00 to $56.00 in a report on Friday, January 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $56.62.

Shares of LNC stock traded down $0.70 during trading hours on Thursday, hitting $63.08. The company’s stock had a trading volume of 26,499 shares, compared to its average volume of 1,716,165. The business has a fifty day moving average of $60.05 and a 200-day moving average of $48.18. The stock has a market cap of $12.11 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 0.32 and a beta of 2.26. Lincoln National has a twelve month low of $26.97 and a twelve month high of $67.37. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 0.31.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Tuesday, February 2nd. The financial services provider reported $1.78 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.15). The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a net margin of 4.28% and a return on equity of 5.09%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.41 earnings per share. On average, equities analysts expect that Lincoln National will post 4.59 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Monday, April 12th will be given a $0.42 dividend. The ex-dividend date is Friday, April 9th. This represents a $1.68 annualized dividend and a dividend yield of 2.66%. Lincoln National’s dividend payout ratio is presently 19.31%.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.

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