Janney Montgomery Scott LLC Trims Stake in Lincoln National Co. (NYSE:LNC)

Janney Montgomery Scott LLC reduced its position in shares of Lincoln National Co. (NYSE:LNCFree Report) by 14.3% during the 4th quarter, HoldingsChannel reports. The firm owned 151,313 shares of the financial services provider’s stock after selling 25,199 shares during the period. Janney Montgomery Scott LLC’s holdings in Lincoln National were worth $4,798,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Lincoln National by 1.3% in the 3rd quarter. State Street Corp now owns 6,227,993 shares of the financial services provider’s stock valued at $196,244,000 after acquiring an additional 79,955 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Lincoln National by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider’s stock valued at $150,104,000 after acquiring an additional 193,025 shares during the period. Geode Capital Management LLC increased its holdings in shares of Lincoln National by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,373,487 shares of the financial services provider’s stock valued at $106,322,000 after acquiring an additional 152,622 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Lincoln National by 7.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock valued at $104,281,000 after acquiring an additional 223,129 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in shares of Lincoln National by 9.7% in the 3rd quarter. Two Sigma Advisers LP now owns 2,355,000 shares of the financial services provider’s stock valued at $74,206,000 after acquiring an additional 207,800 shares during the period. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LNC shares. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Barclays cut their price target on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Piper Sandler dropped 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. TD Cowen boosted their target price on 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 dropped their target price on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $33.40.

Read Our Latest Report on Lincoln National

Lincoln National Stock Performance

Shares of LNC opened at $35.35 on Thursday. The stock has a 50-day moving average of $33.00 and a two-hundred day moving average of $32.36. Lincoln National Co. has a one year low of $25.09 and a one year high of $36.98. 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 stock has a market cap of $6.02 billion, a P/E ratio of 25.25, a P/E/G ratio of 0.26 and a beta of 1.78.

Lincoln National (NYSE:LNCGet Free Report) last issued 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 return on equity of 18.15% and a net margin of 2.51%. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, research analysts predict that Lincoln National Co. will post 6.97 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.09%. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

Insider Activity

In other news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the transaction, the executive vice president now owns 99,644 shares of the company’s stock, valued at $3,587,184. The trade was a 2.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Lincoln National Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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