Point72 Asia Singapore Pte. Ltd. Sells 2,337 Shares of Lincoln National Co. (NYSE:LNC)

Point72 Asia Singapore Pte. Ltd. lowered its holdings in shares of Lincoln National Co. (NYSE:LNC) by 15.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 12,376 shares of the financial services provider’s stock after selling 2,337 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Lincoln National were worth $385,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of LNC. Massachusetts Financial Services Co. MA bought a new position in shares of Lincoln National during the second quarter valued at $142,148,000. Norges Bank bought a new position in shares of Lincoln National during the fourth quarter valued at $54,026,000. Principal Financial Group Inc. raised its stake in shares of Lincoln National by 59.2% during the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after acquiring an additional 1,147,896 shares during the last quarter. Vanguard Group Inc. raised its stake in Lincoln National by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 21,688,670 shares of the financial services provider’s stock worth $584,943,000 after buying an additional 1,094,789 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Lincoln National during the first quarter worth $28,649,000. Institutional investors own 72.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LNC shares. JPMorgan Chase & Co. lifted their target price on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. Bank of America lowered their target price on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Piper Sandler lifted their target price on shares of Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Morgan Stanley lowered 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. Finally, Jefferies Financial Group lifted their target price on shares of Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lincoln National presently has a consensus rating of “Hold” and a consensus target price of $32.64.

Lincoln National Stock Down 1.4 %

Shares of NYSE LNC opened at $30.84 on Thursday. The stock has a market capitalization of $5.25 billion, a P/E ratio of 4.22, a P/E/G ratio of 0.31 and a beta of 1.81. The company has a 50-day moving average price of $31.04 and a 200-day moving average price of $30.54. Lincoln National Co. has a 1 year low of $20.85 and a 1 year high of $36.46. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. During the same period last year, the company earned $2.02 earnings per share. On average, equities research analysts forecast that Lincoln National Co. will post 5.71 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 24.62%.

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.