National Bank of Canada FI Sells 44,287 Shares of Lincoln National Co. (NYSE:LNC)

National Bank of Canada FI decreased its holdings in shares of Lincoln National Co. (NYSE:LNC) by 96.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,567 shares of the financial services provider’s stock after selling 44,287 shares during the quarter. National Bank of Canada FI’s holdings in Lincoln National were worth $49,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Lincoln National by 22.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 32,176 shares of the financial services provider’s stock valued at $1,001,000 after purchasing an additional 5,804 shares during the last quarter. Brookstone Capital Management acquired a new stake in shares of Lincoln National during the 2nd quarter valued at $210,000. Nisa Investment Advisors LLC grew its position in Lincoln National by 12.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 48,708 shares of the financial services provider’s stock worth $1,515,000 after acquiring an additional 5,300 shares during the last quarter. Fifth Third Bancorp increased its holdings in Lincoln National by 1.6% in the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 420 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Lincoln National by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 85,500 shares of the financial services provider’s stock valued at $2,659,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 72.81% of the company’s stock.

Lincoln National Price Performance

Lincoln National stock opened at $32.46 on Wednesday. The stock’s 50 day moving average price is $33.99 and its two-hundred day moving average price is $32.25. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 0.29 and a beta of 1.77. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Co. has a 52-week low of $25.09 and a 52-week high of $36.98.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS 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 business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same period last year, the company posted $0.23 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts predict that Lincoln National Co. will post 6.62 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is currently 128.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays upped their price objective on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note 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 for the company in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. TD Cowen boosted their price objective on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company raised their target price on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.25.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction 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 owns 99,644 shares in the company, valued at approximately $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

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.