Independent Advisor Alliance Reduces Stock Holdings in Lincoln National Co. (NYSE:LNC)

Independent Advisor Alliance reduced its holdings in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 51.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,952 shares of the financial services provider's stock after selling 21,786 shares during the quarter. Independent Advisor Alliance's holdings in Lincoln National were worth $660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. acquired a new position in Lincoln National during the third quarter worth about $274,000. Larson Financial Group LLC grew its holdings in shares of Lincoln National by 95.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 530 shares during the last quarter. Cerity Partners LLC increased its position in Lincoln National by 27.4% during the 3rd quarter. Cerity Partners LLC now owns 59,029 shares of the financial services provider's stock worth $1,860,000 after purchasing an additional 12,704 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Lincoln National by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider's stock worth $150,104,000 after purchasing an additional 193,025 shares in the last quarter. Finally, Moran Wealth Management LLC bought a new position in Lincoln National in the third quarter valued at about $2,638,000. 72.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction 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. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Lincoln National Trading Up 0.3 %

Shares of Lincoln National stock opened at $35.45 on Thursday. The company has a market capitalization of $6.04 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. The stock has a fifty day simple moving average of $33.14 and a 200 day simple moving average of $31.96. Lincoln National Co. has a 12-month low of $23.40 and a 12-month 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 posted its 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 EPS. The business's revenue was down 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.08%. Lincoln National's payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

LNC has been the subject of several recent research reports. Morgan Stanley lowered their price objective on Lincoln National from $30.00 to $29.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. StockNews.com raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. TD Cowen upped their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a "hold" rating in a research report on Wednesday. Barclays increased their price target on Lincoln National from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 8th. Finally, Piper Sandler reduced their price target on shares of Lincoln National from $37.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $33.25.

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.