Sugarloaf Wealth Management LLC Sells 657 Shares of Lincoln National Co. (NYSE:LNC)

Sugarloaf Wealth Management LLC reduced its position in Lincoln National Co. (NYSE:LNC) by 27.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,767 shares of the financial services provider’s stock after selling 657 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Lincoln National were worth $56,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. RK Asset Management LLC raised its stake in shares of Lincoln National by 6.8% during the third quarter. RK Asset Management LLC now owns 102,186 shares of the financial services provider’s stock valued at $3,220,000 after acquiring an additional 6,518 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Lincoln National during the 2nd quarter worth $1,987,000. Sanctuary Advisors LLC bought a new stake in Lincoln National during the 2nd quarter valued at $1,798,000. Cetera Investment Advisers lifted its holdings in shares of Lincoln National by 5.3% in the 2nd quarter. Cetera Investment Advisers now owns 62,805 shares of the financial services provider’s stock worth $1,953,000 after buying an additional 3,171 shares during the period. Finally, Ted Buchan & Co bought a new position in shares of Lincoln National during the 2nd quarter worth $1,361,000. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

LNC opened at $31.39 on Wednesday. The firm has a fifty day moving average price of $30.80 and a 200 day moving average price of $30.78. Lincoln National Co. has a 1 year low of $20.85 and a 1 year high of $36.46. The stock has a market cap of $5.34 billion, a P/E ratio of 4.29, a P/E/G ratio of 0.31 and a beta of 1.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. Equities research analysts anticipate that Lincoln National Co. will post 5.71 earnings per share for the current year.

Lincoln National Dividend Announcement

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

Wall Street Analysts Forecast Growth

LNC has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 2nd. Morgan Stanley dropped their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Piper Sandler decreased their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Barclays lifted their target price on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Bank of America cut their price objective 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Lincoln National currently has an average rating of “Hold” and a consensus price target of $32.73.

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.