Tidal Investments LLC Lowers Position in Lincoln National Co. (NYSE:LNC)

Tidal Investments LLC decreased its holdings in shares of Lincoln National Co. (NYSE:LNC) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,731 shares of the financial services provider’s stock after selling 2,619 shares during the period. Tidal Investments LLC’s holdings in Lincoln National were worth $527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LNC. New York State Teachers Retirement System increased its holdings in shares of Lincoln National by 3.1% in the 2nd quarter. New York State Teachers Retirement System now owns 225,881 shares of the financial services provider’s stock worth $7,025,000 after buying an additional 6,751 shares during the last quarter. Bank of New York Mellon Corp raised its position in Lincoln National by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 2,249,725 shares of the financial services provider’s stock valued at $69,966,000 after purchasing an additional 31,235 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Lincoln National by 67.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,044 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 821 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Lincoln National by 6.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 19,998 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 1,144 shares in the last quarter. Finally, HB Wealth Management LLC increased its position in shares of Lincoln National by 3.3% during the 2nd quarter. HB Wealth Management LLC now owns 19,588 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 632 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Trading Up 1.0 %

NYSE:LNC opened at $31.00 on Monday. The firm has a market capitalization of $5.28 billion, a P/E ratio of 22.14, a PEG ratio of 0.29 and a beta of 1.77. 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 Co. has a one year low of $25.09 and a one year high of $36.98. The company’s 50-day simple moving average is $33.92 and its 200 day simple moving average is $32.21.

Lincoln National (NYSE:LNC) last released its 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. The firm had revenue of $4.11 billion for 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, analysts forecast that Lincoln National Co. will post 6.62 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 annualized dividend and a dividend yield of 5.81%. Lincoln National’s dividend payout ratio is presently 128.57%.

Analysts Set New Price Targets

Several brokerages have issued reports on LNC. Barclays upped their target price on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their target price 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. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. TD Cowen lifted their price objective on Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Piper Sandler dropped their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. One 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 stock. According to data from MarketBeat, Lincoln National presently has a consensus rating of “Hold” and an average target price of $33.25.

Insider Activity

In related news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National 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 sale, the executive vice president now directly owns 99,644 shares in the company, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.