Range Financial Group LLC Invests $1.08 Million in Lincoln National Co. (NYSE:LNC)

Range Financial Group LLC bought a new stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 33,902 shares of the financial services provider's stock, valued at approximately $1,075,000.

A number of other hedge funds have also made changes to their positions in LNC. OLD National Bancorp IN boosted its stake in Lincoln National by 4.0% during the 3rd quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider's stock valued at $265,000 after acquiring an additional 325 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Lincoln National by 20.2% during the fourth quarter. Versant Capital Management Inc now owns 2,104 shares of the financial services provider's stock worth $67,000 after purchasing an additional 354 shares during the last quarter. Brookstone Capital Management grew its stake in Lincoln National by 6.2% in the third quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider's stock worth $215,000 after purchasing an additional 397 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in Lincoln National by 13.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider's stock valued at $110,000 after buying an additional 411 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Lincoln National by 1.0% during 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. Institutional investors and hedge funds own 72.81% of the company's stock.

Insider Activity 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 transaction of $103,068.00. Following the completion of the sale, the executive vice president now directly owns 99,644 shares of the company's stock, valued at $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LNC. TD Cowen lifted their target price on Lincoln National from $34.00 to $37.00 and gave the stock a "hold" rating in a research report on Wednesday, November 27th. Piper Sandler lowered 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. StockNews.com raised shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Barclays decreased their price target on shares of Lincoln National from $38.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Wells Fargo & Company increased their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $33.25.

Lincoln National Price Performance

LNC traded down $0.24 on Tuesday, reaching $31.77. The company had a trading volume of 1,378,010 shares, compared to its average volume of 1,582,203. The company has a market capitalization of $5.41 billion, a P/E ratio of 22.69, a PEG ratio of 0.29 and a beta of 1.78. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average of $33.64 and a 200-day moving average of $32.23. Lincoln National Co. has a one year low of $25.09 and a one year high of $36.98.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, beating analysts' consensus estimates of $1.64 by $0.42. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. As a group, equities research analysts anticipate that Lincoln National Co. will post 7.03 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.67%. Lincoln National's dividend payout ratio (DPR) is 128.57%.

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.