D.A. Davidson & CO. Sells 2,838 Shares of Lincoln National Co. (NYSE:LNC)

D.A. Davidson & CO. lessened its holdings in Lincoln National Co. (NYSE:LNC) by 9.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,453 shares of the financial services provider’s stock after selling 2,838 shares during the quarter. D.A. Davidson & CO.’s holdings in Lincoln National were worth $865,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its stake in Lincoln National by 4.2% in the third 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. Principal Financial Group Inc. grew its stake 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 purchasing an additional 223,129 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Lincoln National by 14.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock worth $87,970,000 after buying an additional 348,601 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Lincoln National by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,249,725 shares of the financial services provider’s stock worth $69,966,000 after buying an additional 31,235 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Lincoln National by 49.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock valued at $66,892,000 after buying an additional 711,951 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Insiders Place Their Bets

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 transaction of $103,068.00. Following the completion of the transaction, the executive vice president now directly owns 99,644 shares in the company, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Piper Sandler dropped their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Barclays boosted their price target on shares of 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 dropped their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, Wells Fargo & Company boosted their target price on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a 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 company’s stock. Based on data from MarketBeat, Lincoln National presently has an average rating of “Hold” and an average target price of $33.25.

Lincoln National Stock Up 0.3 %

NYSE LNC opened at $35.54 on Monday. 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 $23.40 and a 52 week high of $36.98. The stock has a market capitalization of $6.05 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. The stock has a fifty day moving average of $33.39 and a 200-day moving average of $32.06.

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

Lincoln National Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.06%. Lincoln National’s payout ratio is presently 128.57%.

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.