Mutual of America Capital Management LLC Lowers Position in Lincoln National Co. (NYSE:LNC)

Mutual of America Capital Management LLC decreased its stake in shares of Lincoln National Co. (NYSE:LNC) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,599 shares of the financial services provider’s stock after selling 2,348 shares during the period. Mutual of America Capital Management LLC’s holdings in Lincoln National were worth $807,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Whittier Trust Co. boosted its holdings in Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 431 shares during the last quarter. Adirondack Trust Co. purchased a new stake in Lincoln National in the 2nd quarter valued at about $31,000. Blue Trust Inc. lifted its position in shares of Lincoln National by 535.5% during the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after buying an additional 905 shares in the last quarter. Eastern Bank purchased a new position in shares of Lincoln National in the 3rd quarter worth approximately $40,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Lincoln National in the first quarter valued at approximately $45,000. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Down 1.0 %

Lincoln National stock opened at $35.37 on Wednesday. The firm has a 50 day simple moving average of $33.04 and a 200 day simple moving average of $31.91. 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 firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 0.32 and a beta of 1.79.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 earnings per share. On average, analysts predict that Lincoln National Co. will post 6.53 earnings per share for the current year.

Lincoln National Dividend Announcement

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

Insider Activity

In related news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the sale, the executive vice president now owns 99,644 shares in the company, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LNC. TD Cowen assumed coverage on Lincoln National in a report on Wednesday, October 9th. They set a “hold” rating and a $34.00 price target on the stock. Piper Sandler lowered their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price target 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. Barclays lifted their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.00.

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.