Lincoln National Co. (NYSE:LNC) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC trimmed its holdings in Lincoln National Co. (NYSE:LNC) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,277 shares of the financial services provider’s stock after selling 363 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Lincoln National were worth $611,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in shares of Lincoln National by 535.5% in the 3rd 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 lifted its position in 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 valued at $34,000 after acquiring an additional 530 shares during the last quarter. Eastern Bank acquired a new position in Lincoln National in the third quarter valued at $40,000. Meeder Asset Management Inc. purchased a new position in shares of Lincoln National during the third quarter worth about $48,000. Finally, Venturi Wealth Management LLC increased its position in shares of Lincoln National by 459.9% during the third quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 1,711 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Stock Up 0.5 %

LNC opened at $34.08 on Wednesday. The business has a 50 day simple moving average of $32.97 and a 200-day simple moving average of $32.34. Lincoln National Co. has a 12 month low of $25.09 and a 12 month high of $36.98. The stock has a market capitalization of $5.81 billion, a P/E ratio of 24.34, a P/E/G ratio of 0.26 and a beta of 1.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last issued 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 company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same period in the previous year, the firm earned $0.23 EPS. The business’s revenue was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that Lincoln National Co. will post 6.97 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

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 given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.28%. Lincoln National’s payout ratio is 128.57%.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the sale, the executive vice president now directly owns 99,644 shares in the company, valued at $3,587,184. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company dropped their price target on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Piper Sandler cut their target price on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Barclays decreased their price target on shares of Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. TD Cowen lifted their price objective on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lincoln National currently has an average rating of “Hold” and an average target price of $33.40.

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.