Lincoln National Co. (NYSE:LNC) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its position in shares of Lincoln National Co. (NYSE:LNC) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,280 shares of the financial services provider’s stock after buying an additional 4,365 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.09% of Lincoln National worth $5,019,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LNC. CANADA LIFE ASSURANCE Co raised its holdings in Lincoln National by 1.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 213,884 shares of the financial services provider’s stock worth $6,828,000 after purchasing an additional 3,913 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Lincoln National by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,144 shares of the financial services provider’s stock valued at $2,496,000 after acquiring an additional 5,176 shares during the period. Caxton Associates LP purchased a new stake in Lincoln National in the 1st quarter worth $2,083,000. Kennedy Capital Management LLC acquired a new position in Lincoln National during the first quarter worth $6,719,000. Finally, Interval Partners LP purchased a new position in Lincoln National during the first quarter valued at $9,938,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

Lincoln National stock opened at $35.34 on Friday. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 0.31 and a beta of 1.79. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a 50 day simple moving average of $32.92 and a 200-day simple moving average of $31.85. Lincoln National Co. has a 1-year low of $23.40 and a 1-year high of $36.98.

Lincoln National (NYSE:LNC) last announced 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. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.23 EPS. On average, analysts expect that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently declared 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is 128.57%.

Analyst Upgrades and Downgrades

LNC has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of 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. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. TD Cowen initiated coverage on Lincoln National in a research note on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price target on the stock. Wells Fargo & Company increased their price objective on Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Barclays lifted their target price on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.

Insider Transactions at Lincoln National

In other Lincoln National 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 transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is available 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.