JPMorgan Chase & Co. Lowers Holdings in Lincoln National Co. (NYSE:LNC)

JPMorgan Chase & Co. cut its holdings in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 12.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 289,222 shares of the financial services provider's stock after selling 42,258 shares during the period. JPMorgan Chase & Co. owned 0.17% of Lincoln National worth $9,113,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Lincoln National by 7.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider's stock worth $104,281,000 after acquiring an additional 223,129 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Lincoln National by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider's stock valued at $1,252,000 after buying an additional 1,121 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Lincoln National during the 2nd quarter valued at $1,548,000. Quantbot Technologies LP increased its stake in shares of Lincoln National by 46.4% in the 2nd quarter. Quantbot Technologies LP now owns 198,557 shares of the financial services provider's stock worth $6,175,000 after acquiring an additional 62,929 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Lincoln National by 7.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 374,076 shares of the financial services provider's stock valued at $11,634,000 after acquiring an additional 26,322 shares during the period. Hedge funds and other institutional investors own 72.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LNC. StockNews.com raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Wells Fargo & Company lowered their price objective on Lincoln National from $29.00 to $28.00 and set an "equal weight" rating for the company in a research note on Tuesday. TD Cowen raised their price target on Lincoln National from $34.00 to $37.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Barclays dropped their price target on shares of Lincoln National from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Finally, Piper Sandler reduced their price objective on shares of Lincoln National from $37.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Lincoln National has an average rating of "Hold" and a consensus price target of $33.40.

Lincoln National Stock Performance

NYSE:LNC traded up $0.78 during trading hours on Tuesday, reaching $31.54. The company had a trading volume of 1,178,701 shares, compared to its average volume of 1,467,438. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 0.29 and a beta of 1.78. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The firm's 50 day moving average price is $33.42 and its 200-day moving average price is $32.21. Lincoln National Co. has a 52 week low of $25.09 and a 52 week high of $36.98.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. Lincoln National's revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. On average, analysts forecast that Lincoln National Co. will post 7.03 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National's payout ratio is 128.57%.

Insider Activity at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

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.