Algert Global LLC Cuts Stock Holdings in Lincoln National Co. (NYSE:LNC)

Algert Global LLC lowered its stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,410 shares of the financial services provider's stock after selling 26,881 shares during the quarter. Algert Global LLC owned 0.12% of Lincoln National worth $6,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of LNC. Cerity Partners LLC lifted its position in shares of Lincoln National by 27.4% during the 3rd quarter. Cerity Partners LLC now owns 59,029 shares of the financial services provider's stock worth $1,860,000 after buying an additional 12,704 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Lincoln National by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider's stock worth $150,104,000 after acquiring an additional 193,025 shares during the period. Moran Wealth Management LLC purchased a new position in Lincoln National in the third quarter worth $2,638,000. PNC Financial Services Group Inc. grew its stake in Lincoln National by 2.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 159,280 shares of the financial services provider's stock valued at $5,019,000 after purchasing an additional 4,365 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Lincoln National during the 3rd quarter valued at $48,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LNC has been the subject of a number of research analyst reports. Morgan Stanley decreased their price objective on shares of Lincoln National from $30.00 to $29.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. Piper Sandler lowered their price target 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 increased their price objective on Lincoln National from $35.00 to $36.00 and gave the company an "equal weight" rating in a report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on Lincoln National from $28.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Finally, TD Cowen started coverage on Lincoln National in a research report on Wednesday, October 9th. They set a "hold" rating and a $34.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $33.00.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $3,587,184. This represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Lincoln National Price Performance

Lincoln National stock traded up $0.52 during midday trading on Friday, reaching $35.34. 915,711 shares of the stock were exchanged, compared to its average volume of 1,590,962. Lincoln National Co. has a 52 week low of $23.40 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 firm has a market cap of $6.02 billion, a PE ratio of 25.24, a PEG ratio of 0.31 and a beta of 1.79. The company's fifty day moving average is $32.92 and its 200-day moving average is $31.85.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter last year, the business posted $0.23 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts forecast that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Dividend Announcement

The business 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 $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National's dividend payout ratio (DPR) is 128.57%.

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.