Lincoln National Co. (NYSE:LNC) Stock Holdings Cut by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in Lincoln National Co. (NYSE:LNC) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,796 shares of the financial services provider’s stock after selling 2,459 shares during the quarter. HighTower Advisors LLC’s holdings in Lincoln National were worth $842,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. boosted its holdings in Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after buying an additional 431 shares in the last quarter. Blue Trust Inc. lifted its stake in Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after buying an additional 905 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after buying an additional 530 shares during the period. Eastern Bank purchased a new position in shares of Lincoln National in the third quarter worth approximately $40,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Lincoln National during the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by insiders.

Lincoln National Trading Down 5.9 %

Shares of NYSE:LNC opened at $30.55 on Thursday. Lincoln National Co. has a 52-week low of $25.09 and a 52-week high of $36.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $5.20 billion, a P/E ratio of 21.82, a P/E/G ratio of 0.29 and a beta of 1.77. The stock’s 50-day moving average is $33.97 and its 200-day moving average is $32.24.

Lincoln National (NYSE:LNC) last released its earnings results 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. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same period in the prior year, the company earned $0.23 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts predict that Lincoln National Co. will post 6.62 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 annualized dividend and a yield of 5.89%. Lincoln National’s dividend payout ratio (DPR) is currently 128.57%.

Analysts Set New Price Targets

A number of research firms recently commented on LNC. Barclays raised 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 note on Tuesday, October 8th. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. TD Cowen raised their price objective on Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their price objective 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. Finally, Piper Sandler dropped their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.25.

About Lincoln National

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.