Sanctuary Advisors LLC Makes New Investment in Lincoln National Co. (NYSE:LNC)

Sanctuary Advisors LLC bought a new position in shares of Lincoln National Co. (NYSE:LNC - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 57,828 shares of the financial services provider's stock, valued at approximately $1,798,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of Lincoln National by 1.6% during the second quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider's stock worth $819,000 after buying an additional 420 shares in the last quarter. Gateway Investment Advisers LLC raised its position in Lincoln National by 4.4% in the 2nd quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider's stock valued at $312,000 after purchasing an additional 426 shares during the last quarter. Whittier Trust Co. boosted its stake in Lincoln National by 106.7% in the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider's stock worth $26,000 after purchasing an additional 431 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Lincoln National by 1.0% in the second quarter. National Bank of Canada FI now owns 45,854 shares of the financial services provider's stock valued at $1,435,000 after buying an additional 468 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its holdings in shares of Lincoln National by 0.6% in the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 84,712 shares of the financial services provider's stock valued at $2,635,000 after buying an additional 495 shares during the last quarter. 72.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LNC has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Lincoln National from $34.00 to $38.00 and gave the stock a "buy" rating in a report on Friday, June 28th. Morgan Stanley dropped their price objective on shares of Lincoln National from $30.00 to $29.00 and set an "equal weight" rating for the company in a research report on Monday, August 19th. Barclays increased their price objective on Lincoln National from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Tuesday. Bank of America lowered their target price on Lincoln National from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, July 11th. Finally, Piper Sandler lowered their target price 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $32.83.

Lincoln National Trading Up 1.6 %

Shares of LNC traded up $0.51 during trading hours on Wednesday, reaching $31.89. The stock had a trading volume of 1,364,660 shares, compared to its average volume of 1,664,840. The firm has a 50-day moving average of $30.77 and a 200 day moving average of $30.79. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The company has a market cap of $5.42 billion, a P/E ratio of 4.36, a P/E/G ratio of 0.31 and a beta of 1.81. Lincoln National Co. has a 52 week low of $20.85 and a 52 week high of $36.46.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $2.02 earnings per share. On average, sell-side analysts expect that Lincoln National Co. will post 5.71 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National's dividend payout ratio is 24.62%.

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.