Fmr LLC Has $7.57 Million Stock Holdings in Lincoln National Co. (NYSE:LNC)

Fmr LLC lowered its holdings in shares of Lincoln National Co. (NYSE:LNC) by 10.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 240,113 shares of the financial services provider’s stock after selling 27,509 shares during the period. Fmr LLC owned approximately 0.14% of Lincoln National worth $7,566,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Ellis Investment Partners LLC bought a new position in shares of Lincoln National during the 2nd quarter worth about $1,095,000. The Manufacturers Life Insurance Company boosted its holdings in Lincoln National by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider’s stock worth $1,252,000 after acquiring an additional 1,121 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Lincoln National in the second quarter valued at approximately $673,000. Mackenzie Financial Corp bought a new stake in shares of Lincoln National during the second quarter valued at approximately $1,548,000. Finally, Quantbot Technologies LP raised its position in shares of Lincoln National by 46.4% during the second quarter. Quantbot Technologies LP now owns 198,557 shares of the financial services provider’s stock worth $6,175,000 after purchasing an additional 62,929 shares during the period. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Stock Down 0.3 %

Shares of NYSE LNC opened at $32.81 on Friday. The business’s fifty day moving average price is $33.91 and its 200-day moving average price is $32.25. Lincoln National Co. has a one year low of $24.62 and a one year high of $36.98. The stock has a market capitalization of $5.59 billion, a PE ratio of 23.44, a P/E/G ratio of 0.31 and a beta of 1.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, beating the consensus estimate of $1.64 by $0.42. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, equities research analysts anticipate that Lincoln National Co. will post 6.62 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.49%. Lincoln National’s dividend payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LNC. TD Cowen lifted their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Morgan Stanley lowered their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Piper Sandler decreased their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.25.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the sale, the executive vice president now directly owns 99,644 shares in the company, valued at $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.54% of the company’s stock.

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.