PFG Investments LLC Sells 1,663 Shares of Lincoln National Co. (NYSE:LNC)

PFG Investments LLC decreased its holdings in Lincoln National Co. (NYSE:LNC) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 16,392 shares of the financial services provider’s stock after selling 1,663 shares during the quarter. PFG Investments LLC’s holdings in Lincoln National were worth $517,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new position in shares of Lincoln National in the first quarter valued at approximately $25,000. Whittier Trust Co. raised its position in Lincoln National by 106.7% in the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after buying an additional 431 shares during the last quarter. Adirondack Trust Co. bought a new position in Lincoln National during the 2nd quarter valued at $31,000. Blue Trust Inc. boosted its holdings in Lincoln National by 535.5% during the 3rd 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 last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Lincoln National by 249.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 873 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

LNC has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Morgan Stanley cut their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. TD Cowen initiated coverage on Lincoln National in a research report on Wednesday, October 9th. They set a “hold” rating and a $34.00 price target for the company. StockNews.com downgraded Lincoln National from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Finally, Piper Sandler decreased their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.00.

Lincoln National Trading Up 2.0 %

Shares of LNC opened at $32.66 on Tuesday. Lincoln National Co. has a fifty-two week low of $20.85 and a fifty-two week high of $36.46. The business has a 50-day moving average of $31.48 and a 200 day moving average of $30.98. The firm has a market cap of $5.55 billion, a P/E ratio of 4.47, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.07. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.65 billion. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. During the same quarter last year, the company earned $2.02 earnings per share. As a group, research analysts forecast that Lincoln National Co. will post 5.73 EPS for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.51%. Lincoln National’s dividend payout ratio is currently 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.