Thrivent Financial for Lutherans Lowers Position in Lincoln National Co. (NYSE:LNC)

Thrivent Financial for Lutherans reduced its holdings in shares of Lincoln National Co. (NYSE:LNC) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,956 shares of the financial services provider’s stock after selling 7,493 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Lincoln National worth $4,221,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new position in Lincoln National during the 2nd quarter valued at $142,148,000. Principal Financial Group Inc. grew its position in Lincoln National by 59.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock worth $95,985,000 after purchasing an additional 1,147,896 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Lincoln National by 3,488.2% in the third quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock valued at $30,669,000 after buying an additional 939,447 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Lincoln National by 49.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock valued at $66,892,000 after buying an additional 711,951 shares during the period. Finally, Algebris UK Ltd grew its holdings in shares of Lincoln National by 122.5% in the 1st quarter. Algebris UK Ltd now owns 861,259 shares of the financial services provider’s stock valued at $25,582,000 after acquiring an additional 474,171 shares in the last quarter. 72.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Piper Sandler decreased their price objective 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. Morgan Stanley dropped their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. TD Cowen initiated coverage on Lincoln National in a research report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $33.00.

Lincoln National Stock Performance

NYSE:LNC opened at $35.34 on Monday. The stock’s 50-day moving average is $32.92 and its 200-day moving average is $31.87. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. Lincoln National Co. has a 1-year low of $23.40 and a 1-year high of $36.98. The stock has a market cap of $6.02 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 0.31 and a beta of 1.79.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Equities research analysts anticipate that Lincoln National Co. will post 6.53 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.09%. Lincoln National’s dividend payout ratio is currently 128.57%.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the sale, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.