Pathstone Holdings LLC Reduces Stock Holdings in Lincoln National Co. (NYSE:LNC)

Pathstone Holdings LLC decreased its position in Lincoln National Co. (NYSE:LNC) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,749 shares of the financial services provider’s stock after selling 6,788 shares during the period. Pathstone Holdings LLC’s holdings in Lincoln National were worth $1,757,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LNC. Whittier Trust Co. lifted its position in shares of Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 431 shares in the last quarter. Adirondack Trust Co. purchased a new stake in shares of Lincoln National during the second quarter worth $31,000. Blue Trust Inc. lifted its position in shares of Lincoln National by 535.5% during the third 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 in the last quarter. Eastern Bank purchased a new stake in shares of Lincoln National during the third quarter worth $40,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Lincoln National during the first quarter worth $45,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Wall Street Analyst Weigh In

LNC has been the topic of several research analyst reports. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their price target 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. TD Cowen upped their price target on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday. 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. Finally, Barclays upped 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.25.

Insider Buying and Selling

In other news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s 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 transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Lincoln National Stock Performance

Shares of NYSE LNC opened at $35.45 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $6.04 billion, a P/E ratio of 25.33, a P/E/G ratio of 0.32 and a beta of 1.79. The firm’s fifty day moving average is $33.14 and its two-hundred day moving average is $31.96. Lincoln National Co. has a 52-week low of $23.40 and a 52-week high of $36.98.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same period in the previous year, the firm posted $0.23 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, analysts anticipate that Lincoln National Co. will post 6.53 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is currently 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.