International Assets Investment Management LLC Sells 924,222 Shares of Lincoln National Co. (NYSE:LNC)

International Assets Investment Management LLC decreased its position in Lincoln National Co. (NYSE:LNC - Free Report) by 95.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,157 shares of the financial services provider's stock after selling 924,222 shares during the quarter. International Assets Investment Management LLC's holdings in Lincoln National were worth $1,342,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in Lincoln National by 535.5% in the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider's stock worth $33,000 after acquiring an additional 905 shares in the last quarter. Larson Financial Group LLC increased its position in Lincoln National by 95.3% during the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider's stock worth $34,000 after buying an additional 530 shares during the last quarter. Eastern Bank bought a new position in Lincoln National during the third quarter valued at about $40,000. Meeder Asset Management Inc. acquired a new stake in shares of Lincoln National in the third quarter worth about $48,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Lincoln National by 459.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider's stock worth $66,000 after acquiring an additional 1,711 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Stock Performance

Lincoln National stock traded down $0.38 on Thursday, hitting $31.40. The company's stock had a trading volume of 1,349,368 shares, compared to its average volume of 1,535,692. The company has a fifty day moving average price of $33.53 and a 200-day moving average price of $32.22. The firm has a market cap of $5.35 billion, a P/E ratio of 22.43, 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. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (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 firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Lincoln National Co. will post 7.03 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date is Friday, January 10th. Lincoln National's dividend payout ratio (DPR) is 128.57%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LNC. Barclays reduced their target price on Lincoln National from $38.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday. TD Cowen upped their price objective on shares of Lincoln National from $34.00 to $37.00 and gave the stock a "hold" rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their target price on shares of Lincoln National from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. Piper Sandler cut their target price on shares of Lincoln National from $37.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded Lincoln National from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $33.25.

Insider Buying and Selling 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 transaction 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. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company's stock.

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.