Raymond James & Associates Purchases 4,005 Shares of Lincoln National Co. (NYSE:LNC)

Raymond James & Associates boosted its position in Lincoln National Co. (NYSE:LNC) by 2.6% in the third quarter, HoldingsChannel.com reports. The firm owned 159,899 shares of the financial services provider’s stock after acquiring an additional 4,005 shares during the period. Raymond James & Associates’ holdings in Lincoln National were worth $5,038,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in 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 purchasing an additional 905 shares in the last quarter. BOS Asset Management LLC grew its stake in shares of Lincoln National by 10.1% during the third quarter. BOS Asset Management LLC now owns 10,561 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 973 shares during the last quarter. Creative Planning grew its stake in shares of Lincoln National by 7.1% during the third quarter. Creative Planning now owns 21,922 shares of the financial services provider’s stock worth $691,000 after acquiring an additional 1,451 shares during the last quarter. Unison Advisors LLC grew its stake in shares of Lincoln National by 1.4% during the third quarter. Unison Advisors LLC now owns 63,328 shares of the financial services provider’s stock worth $1,995,000 after acquiring an additional 899 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Lincoln National by 13.3% during the third quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock worth $110,000 after acquiring an additional 411 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Trading Down 3.5 %

Shares of NYSE:LNC opened at $33.52 on Friday. Lincoln National Co. has a 12-month low of $20.85 and a 12-month high of $36.46. The company has a market capitalization of $5.71 billion, a PE ratio of 23.94, a PEG ratio of 0.32 and a beta of 1.81. The business has a 50 day moving average of $31.68 and a two-hundred day moving average of $31.09. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share 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 the consensus estimate of $4.61 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 EPS. As a group, analysts forecast that Lincoln National Co. will post 5.73 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Thursday, October 10th. Lincoln National’s payout ratio is 128.57%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LNC. Piper Sandler dropped their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley dropped their price target 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. Wells Fargo & Company upped their target price on Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Barclays upped their target price on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, StockNews.com lowered Lincoln National from a “hold” rating to a “sell” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National presently has a consensus rating of “Hold” and a consensus price target of $33.00.

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.