Geode Capital Management LLC Acquires 152,622 Shares of Lincoln National Co. (NYSE:LNC)

Geode Capital Management LLC increased its position in Lincoln National Co. (NYSE:LNC - Free Report) by 4.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,373,487 shares of the financial services provider's stock after acquiring an additional 152,622 shares during the quarter. Geode Capital Management LLC owned about 1.98% of Lincoln National worth $106,322,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Ellis Investment Partners LLC purchased a new position in shares of Lincoln National during the 2nd quarter valued at $1,095,000. The Manufacturers Life Insurance Company increased its stake in Lincoln National by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider's stock worth $1,252,000 after acquiring an additional 1,121 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Lincoln National in the 2nd quarter valued at about $1,548,000. Quantbot Technologies LP grew its holdings in shares of Lincoln National by 46.4% during the second quarter. Quantbot Technologies LP now owns 198,557 shares of the financial services provider's stock worth $6,175,000 after purchasing an additional 62,929 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Lincoln National by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 374,076 shares of the financial services provider's stock worth $11,634,000 after purchasing an additional 26,322 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Trading Up 0.5 %

Shares of NYSE LNC traded up $0.15 during mid-day trading on Thursday, hitting $30.70. The stock had a trading volume of 1,816,690 shares, compared to its average volume of 1,597,973. The firm has a market cap of $5.23 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 0.29 and a beta of 1.77. 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 business has a 50 day moving average price of $33.97 and a two-hundred day moving average price of $32.24. Lincoln National Co. has a 1 year low of $25.09 and a 1 year high of $36.98.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.42. The firm had revenue of $4.11 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.23 earnings per share. On average, equities analysts anticipate that Lincoln National Co. will post 6.62 EPS for the current fiscal year.

Lincoln National Announces Dividend

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 given a $0.45 dividend. 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 5.86%. Lincoln National's dividend payout ratio is currently 128.57%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research firms have commented on LNC. Wells Fargo & Company boosted 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 note on Thursday, October 10th. Piper Sandler reduced their target price on Lincoln National from $37.00 to $34.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 2nd. TD Cowen lifted their price target on Lincoln National from $34.00 to $37.00 and gave the stock a "hold" rating in a research note on Wednesday, November 27th. StockNews.com upgraded Lincoln National from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Barclays boosted their target price on Lincoln National from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average 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.