Algert Global LLC Has $6.32 Million Holdings in Lincoln National Co. (NYSE:LNC)

Algert Global LLC cut its stake in shares of Lincoln National Co. (NYSE:LNC) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,410 shares of the financial services provider’s stock after selling 26,881 shares during the period. Algert Global LLC owned about 0.12% of Lincoln National worth $6,315,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. OLD National Bancorp IN increased its holdings in Lincoln National by 4.0% in the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 325 shares during the period. Brookstone Capital Management increased its holdings in Lincoln National by 6.2% in the third quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 397 shares during the period. Hexagon Capital Partners LLC increased its holdings in Lincoln National by 13.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 411 shares during the period. Fifth Third Bancorp increased its holdings in Lincoln National by 1.6% in the second quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 420 shares during the period. Finally, Gateway Investment Advisers LLC grew its holdings in Lincoln National by 4.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 426 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Lincoln National Price Performance

Shares of NYSE LNC opened at $35.34 on Friday. Lincoln National Co. has a fifty-two week low of $23.40 and a fifty-two week high of $36.98. The firm’s 50-day simple moving average is $32.92 and its 200 day simple moving average is $31.85. 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 stock has a market cap of $6.02 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 0.31 and a beta of 1.79.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter last year, the firm earned $0.23 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LNC shares. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley decreased their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Wells Fargo & Company increased their price target on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler decreased their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Barclays increased their price target on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. 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 company’s stock. According to data from MarketBeat, Lincoln National presently has a consensus rating of “Hold” and a consensus target price of $33.00.

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.