Everence Capital Management Inc. Has $203,000 Position in Lincoln National Co. (NYSE:LNC)

Everence Capital Management Inc. lessened its position in shares of Lincoln National Co. (NYSE:LNC) by 76.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,410 shares of the financial services provider’s stock after selling 20,380 shares during the period. Everence Capital Management Inc.’s holdings in Lincoln National were worth $203,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of Lincoln National by 535.5% during the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 905 shares in the last quarter. Larson Financial Group LLC increased its holdings in Lincoln National by 95.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 530 shares in the last quarter. Eastern Bank bought a new position in shares of Lincoln National in the third quarter valued at approximately $40,000. Meeder Asset Management Inc. bought a new stake in Lincoln National during the third quarter worth $48,000. Finally, Venturi Wealth Management LLC raised its position in Lincoln National by 459.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,711 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Analysts Set New Price Targets

LNC has been the subject of several recent analyst reports. TD Cowen upped their target price 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. Barclays reduced their price objective on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday. Piper Sandler lowered their target price 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. Wells Fargo & Company lifted their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.25.

Lincoln National Stock Down 1.2 %

Shares of NYSE LNC opened at $31.40 on Thursday. The business has a 50-day moving average of $33.59 and a 200-day moving average of $32.22. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 0.29 and a beta of 1.78. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. Lincoln National Co. has a 12 month low of $25.09 and a 12 month high of $36.98.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data 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. 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 analysts’ expectations of $4.61 billion. During the same quarter last year, the company posted $0.23 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts expect that Lincoln National Co. will post 7.03 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.73%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio is currently 128.57%.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the sale, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by insiders.

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.