Versor Investments LP Takes $259,000 Position in Lincoln National Co. (NYSE:LNC)

Versor Investments LP acquired a new position in shares of Lincoln National Co. (NYSE:LNC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,216 shares of the financial services provider’s stock, valued at approximately $259,000.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Lincoln National in the 2nd quarter valued at about $142,148,000. Principal Financial Group Inc. raised its position in Lincoln National by 59.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after buying an additional 1,147,896 shares during the last quarter. International Assets Investment Management LLC boosted its position in Lincoln National by 3,488.2% during the 3rd quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock worth $30,669,000 after acquiring an additional 939,447 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Lincoln National by 49.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock worth $66,892,000 after acquiring an additional 711,951 shares in the last quarter. Finally, Algebris UK Ltd raised its holdings in shares of Lincoln National by 122.5% in the first quarter. Algebris UK Ltd now owns 861,259 shares of the financial services provider’s stock valued at $25,582,000 after purchasing an additional 474,171 shares during the last quarter. 72.81% of the stock is owned by institutional investors.

Lincoln National Trading Up 1.2 %

LNC stock opened at $35.35 on Friday. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 0.31 and a beta of 1.79. The company has a fifty day moving average price of $32.35 and a two-hundred day moving average price of $31.62. Lincoln National Co. has a one year low of $23.14 and a one year high of $36.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last released 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. 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 period in the prior year, the firm earned $0.23 EPS. The business’s revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Announces Dividend

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

Wall Street Analyst Weigh In

LNC has been the subject of a number of analyst reports. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. 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 report on Wednesday, October 2nd. Barclays increased their price target on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Morgan Stanley lowered their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, TD Cowen initiated coverage on shares of Lincoln National in a research note on Wednesday, October 9th. They issued a “hold” rating and a $34.00 target price for the company. One equities research 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $33.00.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the transaction, the executive vice president now directly 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 legal filing with the SEC, which is accessible through this link. Company 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.