PNC Financial Services Group Inc. Trims Stock Position in Lincoln National Co. (NYSE:LNC)

PNC Financial Services Group Inc. trimmed its stake in Lincoln National Co. (NYSE:LNC - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,986 shares of the financial services provider's stock after selling 9,294 shares during the period. PNC Financial Services Group Inc. owned about 0.09% of Lincoln National worth $4,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in LNC. Hennessy Advisors Inc. purchased a new stake in Lincoln National in the 4th quarter valued at about $54,189,000. Raymond James Financial Inc. purchased a new stake in shares of Lincoln National in the 4th quarter worth approximately $8,155,000. Principal Financial Group Inc. lifted 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 purchasing an additional 223,129 shares during the period. Two Sigma Advisers LP lifted its position in shares of Lincoln National by 9.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,355,000 shares of the financial services provider's stock worth $74,206,000 after purchasing an additional 207,800 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of 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 during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

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Lincoln National Stock Performance

Shares of NYSE LNC traded up $1.60 during midday trading on Friday, reaching $36.06. The company had a trading volume of 1,543,683 shares, compared to its average volume of 1,470,844. The business's 50-day simple moving average is $35.28 and its 200 day simple moving average is $33.57. The stock has a market cap of $6.15 billion, a P/E ratio of 1.96, a P/E/G ratio of 0.30 and a beta of 1.76. Lincoln National Co. has a 1 year low of $25.80 and a 1 year high of $39.85. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.80.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.87 by $0.04. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. On average, analysts forecast that Lincoln National Co. will post 7.69 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 Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.99%. Lincoln National's dividend payout ratio (DPR) is presently 9.79%.

Wall Street Analysts Forecast Growth

LNC has been the subject of several research reports. Evercore ISI upped their price target on shares of Lincoln National from $41.00 to $44.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. TD Cowen upped their price target on shares of Lincoln National from $34.00 to $37.00 and gave the stock a "hold" rating in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on shares of Lincoln National from $28.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Morgan Stanley increased their target price on shares of Lincoln National from $39.00 to $42.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Finally, Barclays increased their target price on shares of Lincoln National from $36.00 to $38.00 and gave the company an "equal weight" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lincoln National currently has a consensus rating of "Hold" and a consensus price target of $37.40.

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.