BlackRock Fund Advisors has recently announced that it has increased stake in Lincoln National Corp. (NYSE:LNC) by 82.98%. After grabbing 14.64 million shares, the institutional investor is now in possession of 6.64 million shares of the Financial Company. The new investment brought the stake of investor firm to 8.63% having worth around $318.71 million. Moreover, HSBC Global Asset Management increased its share by 4.09 million to have a control over 4.28 million shares. And Jacobs Levy Equity Management, In raised its holdings to 1.1 million shares by acquiring 3.16 million shares or 1.86% of the stake.
Lincoln National Corp. (LNC) concluded trading on 12/13/23 at a closing price of $26.07, with 4.52 million shares of worth about $117.92 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 9.35% during that period and on Wednesday the price saw a gain of about 5.25%. Currently the company’s common shares owned by public are about 169.22M shares, out of which, 167.76M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the LNC stock and their offered price forecasts bring an average price target of $24.91. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $30.00 and could fall to a lowest price of $17.00. The stock’s current price level is -4.66% below of average price target set by the analysts, while a dip to estimated low would result in loss of -53.35% for the stock. However, touching the estimated high of $30.00 would mean a gain of 13.1% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 28 times over the past 12 months. They bought 598,876 shares in 17 of the transactions. In 11 selling transactions, insiders dumped 23,902 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Lincoln National Corp. iShares Core S&P Small Cap ETF is currently holding 7.76 million shares of worth totaling $168.93 million. The company recently came buying 0.0 shares which brought its stake up to 4.57% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 10804.0 shares, after which its hold over company’s outstanding shares expand to 3.13%, leaving 5.3 million shares with the mutual fund that have a worth of about $115.41 million. Vanguard Small Cap Index Fund, after buying 4.38 million shares, have now control over 2.58% of the stake in the company. It holds 8932.0 shares of worth $95.29 million.
Lincoln National Corp. (NYSE: LNC) started trading at $24.75, below -$0.02 from concluding price of the previous day. Stock saw a price change of 8.40% in past 5 days and over the past one month there was a price change of 19.20%. Year-to-date (YTD), LNC shares are showing a performance of -15.14% which decreased to -19.24% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $18.50 but also hit the highest price of $36.50 during that period. The average intraday trading volume for Lincoln National Corp. shares is 2.82 million. The stock is currently trading 8.70% above its 20-day simple moving average (SMA20), while that difference is up 12.01% for SMA50 and it goes to 8.88% higher than SMA200.
BlackRock Fund Advisors acquired 14.64 million shares of Lincoln National Corp. having value of about $318.71 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 6.64 million shares in the company valued at close to $173080945.95, or have control over 82.98% stake in the company. Lincoln National Corp. (NYSE: LNC) currently have 169.22M outstanding shares and institutions hold larger chunk of about 75.29% of that. Holding of mutual funds in the company is about 35.71% while other institutional holders and individual stake holders have control over 40.15% and 3.21% of the stake respectively.
The stock has a current market capitalization of $4.42B and its 3Y-monthly beta is at 1.79. PE ratio of stock for trailing 12 months is 10.84, while it has posted earnings per share of $2.40 in the same period. Its PEG reads 1.37 while making debt-to-equity ratio of 1.85. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LNC, volatility over the week remained 3.25% while standing at 2.89% over the month.
Analysts are in expectations that Lincoln National Corp. (LNC) stock would likely to be making an EPS of $1.56 in the current quarter, while forecast for next quarter EPS is $1.54 and it is $7.12 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.86 which is $1.9 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.97 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 207.28% while it is estimated to increase by 26.82% in next year.
Analysts at 14 brokerage firms have issued recommendations for the Lincoln National Corp. (LNC)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 14 Wall Street analysts, 1 recommended a “Buy” rating, while 12 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
