National Bank of Canada FI Sells 44,287 Shares of Lincoln National Co. (NYSE:LNC)

National Bank of Canada FI cut its position in Lincoln National Co. (NYSE:LNC - Free Report) by 96.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,567 shares of the financial services provider's stock after selling 44,287 shares during the quarter. National Bank of Canada FI's holdings in Lincoln National were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. boosted its holdings in Lincoln National by 106.7% in the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider's stock worth $26,000 after buying an additional 431 shares during the period. Blue Trust Inc. boosted its holdings in shares of Lincoln National by 535.5% in the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider's stock worth $33,000 after acquiring an additional 905 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider's stock worth $34,000 after acquiring an additional 530 shares during the period. Eastern Bank purchased a new position in shares of Lincoln National in the third quarter valued at $40,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Lincoln National during the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 72.81% of the company's stock.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 2,863 shares of the firm's stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays raised their target price on Lincoln National from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 8th. 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. Wells Fargo & Company upped their target price on shares of Lincoln National from $28.00 to $29.00 and gave the stock an "equal weight" rating in a report on Thursday, October 10th. TD Cowen raised their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Finally, StockNews.com raised shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. 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 company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $33.25.

Lincoln National Price Performance

Shares of LNC traded down $1.91 during midday trading on Wednesday, reaching $30.55. The stock had a trading volume of 1,910,263 shares, compared to its average volume of 1,597,075. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 0.29 and a beta of 1.77. 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 Co. has a 12-month low of $25.09 and a 12-month high of $36.98. The company's 50-day moving average is $33.97 and its 200 day moving average is $32.24.

Lincoln National (NYSE:LNC - Get Free Report) last issued 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. The business 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 for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, equities analysts predict that Lincoln National Co. will post 6.62 EPS 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. Investors of record on Friday, January 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National's payout ratio is presently 128.57%.

Lincoln National Company 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.