Range Financial Group LLC Invests $1.08 Million in Lincoln National Co. (NYSE:LNC)

Range Financial Group LLC bought a new position in Lincoln National Co. (NYSE:LNC) during the 4th quarter, Holdings Channel reports. The institutional investor bought 33,902 shares of the financial services provider’s stock, valued at approximately $1,075,000.

A number of other institutional investors have also recently added to or reduced their stakes in LNC. State Street Corp lifted its position in Lincoln National by 1.3% during the third quarter. State Street Corp now owns 6,227,993 shares of the financial services provider’s stock valued at $196,244,000 after buying an additional 79,955 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Lincoln National by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider’s stock valued at $150,104,000 after buying an additional 193,025 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lincoln National by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,373,487 shares of the financial services provider’s stock valued at $106,322,000 after buying an additional 152,622 shares during the period. Principal Financial Group Inc. lifted its position in Lincoln National by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock worth $104,281,000 after acquiring an additional 223,129 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Lincoln National by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock valued at $87,970,000 after acquiring an additional 348,601 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LNC shares. 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 note on Thursday, October 10th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. TD Cowen increased their target price on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Piper Sandler reduced their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, Barclays lowered their price objective on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Lincoln National presently has a consensus rating of “Hold” and an average price target of $33.25.

Lincoln National Price Performance

Shares of NYSE LNC traded down $0.24 during midday trading on Tuesday, reaching $31.77. The company’s stock had a trading volume of 1,378,010 shares, compared to its average volume of 1,582,188. The company has a 50 day moving average price of $33.66 and a 200 day moving average price of $32.23. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 0.29 and a beta of 1.78. Lincoln National Co. has a one year low of $25.09 and a one year high of $36.98.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. On average, equities research analysts expect that Lincoln National Co. will post 7.03 EPS 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 paid a dividend of $0.45 per share. The ex-dividend date is Friday, January 10th. This represents a $1.80 annualized dividend and a yield of 5.67%. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of the 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 owns 99,644 shares in the company, valued at approximately $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

Lincoln National Company 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.