Lincoln National Co. (NYSE:LNC) Shares Acquired by State Street Corp

State Street Corp boosted its position in Lincoln National Co. (NYSE:LNC - Free Report) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,227,993 shares of the financial services provider's stock after buying an additional 79,955 shares during the quarter. State Street Corp owned approximately 3.66% of Lincoln National worth $196,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Stifel Financial Corp grew its position in shares of Lincoln National by 13.5% in the third quarter. Stifel Financial Corp now owns 239,091 shares of the financial services provider's stock valued at $7,534,000 after purchasing an additional 28,388 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Lincoln National by 14.9% during the 3rd quarter. Quantinno Capital Management LP now owns 96,953 shares of the financial services provider's stock valued at $3,055,000 after buying an additional 12,544 shares in the last quarter. Quarry LP lifted its holdings in shares of Lincoln National by 23.2% in the 3rd quarter. Quarry LP now owns 2,793 shares of the financial services provider's stock worth $88,000 after acquiring an additional 526 shares during the last quarter. Petrus Trust Company LTA purchased a new stake in Lincoln National during the third quarter valued at about $828,000. Finally, New Vernon Investment Management LLC purchased a new stake in Lincoln National during the 3rd quarter valued at about $3,508,000. 72.81% of the stock is currently owned by institutional investors.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the 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 transaction, 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 sale 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of Lincoln National from $30.00 to $29.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Barclays increased their price objective on Lincoln National from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Piper Sandler lowered their price objective on Lincoln National from $37.00 to $34.00 and set a "neutral" rating for the company in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price target on shares of Lincoln National from $28.00 to $29.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of 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 issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Lincoln National currently has a consensus rating of "Hold" and an average price target of $33.25.

Lincoln National Stock Performance

Shares of NYSE:LNC traded up $0.14 during mid-day trading on Friday, reaching $32.95. 933,817 shares of the company traded hands, compared to its average volume of 1,601,047. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27. Lincoln National Co. has a 52 week low of $25.09 and a 52 week high of $36.98. The company's 50 day moving average price is $33.93 and its 200-day moving average price is $32.25. The firm has a market cap of $5.61 billion, a PE ratio of 23.54, a PEG ratio of 0.29 and a beta of 1.77.

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 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 for the quarter, compared to analysts' expectations of $4.61 billion. During the same quarter last year, the business posted $0.23 earnings per share. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts expect that Lincoln National Co. will post 6.62 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.46%. Lincoln National's dividend payout ratio (DPR) is presently 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.