Lincoln National Co. (NYSE:LNC) Shares Sold by Public Sector Pension Investment Board

Public Sector Pension Investment Board decreased its stake in Lincoln National Co. (NYSE:LNC) by 3.5% in the 3rd quarter, Holdings Channel reports. The firm owned 361,076 shares of the financial services provider’s stock after selling 13,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in Lincoln National were worth $11,378,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LNC. OLD National Bancorp IN raised its position in Lincoln National by 4.0% during the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 325 shares during the last quarter. Brookstone Capital Management grew its stake in Lincoln National by 6.2% during the third quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock worth $215,000 after buying an additional 397 shares during the period. Hexagon Capital Partners LLC grew its stake in Lincoln National by 13.3% during the third quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock worth $110,000 after buying an additional 411 shares during the period. Fifth Third Bancorp lifted its position in shares of Lincoln National by 1.6% during the second quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 420 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its position in shares of Lincoln National by 4.4% during the second quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 426 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Insider Activity

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the company’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 completion of the transaction, the executive vice president now owns 99,644 shares of the company’s stock, valued at $3,587,184. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on LNC shares. Morgan Stanley cut their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. TD Cowen increased their target price on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Piper Sandler decreased their target price on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $33.25.

Lincoln National Price Performance

NYSE LNC opened at $35.45 on Friday. The company has a 50 day simple moving average of $33.25 and a 200-day simple moving average of $31.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. Lincoln National Co. has a 52-week low of $23.40 and a 52-week high of $36.98.

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

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given 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 5.08%. Lincoln National’s dividend payout ratio is presently 128.57%.

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.