Fmr LLC Sells 27,509 Shares of Lincoln National Co. (NYSE:LNC)

FMR LLC reduced its holdings in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 10.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,113 shares of the financial services provider's stock after selling 27,509 shares during the quarter. FMR LLC owned 0.14% of Lincoln National worth $7,566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Lincoln National in the 2nd quarter valued at $673,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Lincoln National by 22.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,176 shares of the financial services provider's stock valued at $1,001,000 after purchasing an additional 5,804 shares during the last quarter. Brookstone Capital Management bought a new position in shares of Lincoln National during the second quarter valued at about $210,000. Allen Wealth Management LLC boosted its holdings in Lincoln National by 5.6% during the second quarter. Allen Wealth Management LLC now owns 46,113 shares of the financial services provider's stock worth $1,434,000 after purchasing an additional 2,456 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in Lincoln National by 0.6% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 84,712 shares of the financial services provider's stock worth $2,635,000 after purchasing an additional 495 shares in the last quarter. 72.81% of the stock is owned by institutional investors.

Lincoln National Price Performance

Shares of Lincoln National stock traded up $0.14 on Friday, reaching $32.95. The stock had a trading volume of 933,817 shares, compared to its average volume of 1,599,190. The business's 50 day moving average is $33.91 and its two-hundred day moving average is $32.25. The company has a market cap of $5.61 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 0.29 and a beta of 1.77. Lincoln National Co. has a 1 year low of $25.09 and a 1 year high of $36.98. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, beating the consensus estimate of $1.64 by $0.42. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. As a group, research analysts anticipate that Lincoln National Co. will post 6.62 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National's payout ratio is 128.57%.

Insider Buying and Selling

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the sale, the executive vice president now owns 99,644 shares of the company's stock, valued at $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised Lincoln National from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Piper Sandler lowered their price objective 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. Morgan Stanley reduced their target price on shares of Lincoln National from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Barclays upped their price objective on Lincoln National from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. Finally, TD Cowen raised their target price on Lincoln National from $34.00 to $37.00 and gave the stock a "hold" rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $33.25.

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.