Apollon Wealth Management LLC Reduces Stock Position in Lincoln National Co. (NYSE:LNC)

Apollon Wealth Management LLC reduced its holdings in shares of Lincoln National Co. (NYSE:LNC) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,433 shares of the financial services provider’s stock after selling 695 shares during the quarter. Apollon Wealth Management LLC’s holdings in Lincoln National were worth $203,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LNC. OLD National Bancorp IN increased its holdings 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 worth $265,000 after acquiring an additional 325 shares during the period. Brookstone Capital Management increased its holdings in Lincoln National by 6.2% during the 3rd quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 397 shares during the period. Hexagon Capital Partners LLC increased its holdings in Lincoln National by 13.3% during the 3rd 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 period. Fifth Third Bancorp increased its holdings in Lincoln National by 1.6% during the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after acquiring an additional 420 shares during the period. Finally, Gateway Investment Advisers LLC increased its holdings in Lincoln National by 4.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 426 shares during the period. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LNC shares. Wells Fargo & Company upped their target price on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Barclays increased their price target on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Piper Sandler decreased their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Morgan Stanley decreased their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, TD Cowen started coverage on shares of Lincoln National in a report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and an average target price of $33.00.

Lincoln National Trading Down 1.0 %

Shares of LNC opened at $35.01 on Tuesday. The stock has a market capitalization of $5.96 billion, a P/E ratio of 25.00, a PEG ratio of 0.32 and a beta of 1.79. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $32.47 and a two-hundred day simple moving average of $31.70. Lincoln National Co. has a twelve month low of $23.23 and a twelve month high of $36.98.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.42. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. On average, research analysts anticipate that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.14%. Lincoln National’s dividend payout ratio is 128.57%.

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.