Amalgamated Bank Has $1.68 Million Holdings in Lincoln National Co. (NYSE:LNC)

Amalgamated Bank cut its stake in shares of Lincoln National Co. (NYSE:LNC) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,223 shares of the financial services provider’s stock after selling 2,053 shares during the period. Amalgamated Bank’s holdings in Lincoln National were worth $1,677,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Whittier Trust Co. grew its stake in shares of Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 431 shares during the period. Adirondack Trust Co. acquired a new position in Lincoln National in the second quarter valued at about $31,000. Blue Trust Inc. grew its stake in Lincoln National by 535.5% in the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 905 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Lincoln National by 249.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 873 shares during the period. Finally, Eastern Bank acquired a new position in Lincoln National in the third quarter valued at about $40,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lincoln National

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 transaction of $103,068.00. Following the completion of the sale, the executive vice president now owns 99,644 shares of the company’s stock, valued at $3,587,184. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Lincoln National Trading Up 0.6 %

LNC stock opened at $36.16 on Wednesday. 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 company’s 50-day simple moving average is $32.09 and its 200 day simple moving average is $31.49. Lincoln National Co. has a 52 week low of $21.63 and a 52 week high of $36.98. The company has a market capitalization of $6.16 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 0.31 and a beta of 1.79.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS 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 business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same period in the prior year, the company posted $0.23 earnings per share. Lincoln National’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lincoln National Co. will post 6.53 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a $0.45 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.98%. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Ratings Changes

A number of research firms have issued reports on LNC. Morgan Stanley decreased their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. TD Cowen assumed coverage on Lincoln National in a research note on Wednesday, October 9th. They issued a “hold” rating and a $34.00 target price for the company. Barclays upped their price objective on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Piper Sandler reduced their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Lincoln National presently has a consensus rating of “Hold” and a consensus price target of $33.00.

About Lincoln National

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.