Moran Wealth Management LLC Invests $2.64 Million in Lincoln National Co. (NYSE:LNC)

Moran Wealth Management LLC bought a new position in Lincoln National Co. (NYSE:LNC - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 83,734 shares of the financial services provider's stock, valued at approximately $2,638,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Lincoln National by 0.8% in the first quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider's stock worth $697,825,000 after acquiring an additional 166,167 shares in the last quarter. Ellis Investment Partners LLC purchased a new position in Lincoln National during the second quarter valued at approximately $1,095,000. The Manufacturers Life Insurance Company grew 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 purchasing an additional 1,121 shares in the last quarter. SG Americas Securities LLC purchased a new position in Lincoln National during the second quarter valued at approximately $673,000. Finally, Keynote Financial Services LLC purchased a new position in Lincoln National during the first quarter valued at approximately $1,135,000. 72.81% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $36.00, for a total value 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 trade represents a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company's stock.

Lincoln National Price Performance

Shares of LNC traded up $0.50 during trading hours on Friday, hitting $35.32. The stock had a trading volume of 915,707 shares, compared to its average volume of 1,634,259. The company's fifty day moving average is $32.80 and its two-hundred day moving average is $31.79. 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 $23.40 and a 52 week high of $36.98. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 24.90, a P/E/G ratio of 0.30 and a beta of 1.79.

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 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 business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts anticipate that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently announced 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 is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.10%. Lincoln National's payout ratio is presently 128.57%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. StockNews.com raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Morgan Stanley reduced their target price on shares of 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. Wells Fargo & Company lifted their target price on shares of Lincoln National from $28.00 to $29.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Piper Sandler reduced 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 note on Wednesday, October 2nd. Finally, Barclays lifted their target price on shares of Lincoln National from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $33.00.

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.