Apollon Wealth Management LLC Sells 695 Shares of Lincoln National Co. (NYSE:LNC)

Apollon Wealth Management LLC cut its stake in Lincoln National Co. (NYSE:LNC) by 9.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,433 shares of the financial services provider’s stock after selling 695 shares during the quarter. Apollon Wealth Management LLC’s holdings in Lincoln National were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. OLD National Bancorp IN grew its stake in shares of Lincoln National by 4.0% in the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 325 shares during the period. Brookstone Capital Management boosted its holdings in shares of Lincoln National by 6.2% in the third quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock worth $215,000 after buying an additional 397 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Lincoln National by 13.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock worth $110,000 after buying an additional 411 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Lincoln National by 1.6% in the second quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after buying an additional 420 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its holdings in shares of Lincoln National by 4.4% in the second quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock worth $312,000 after buying an additional 426 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the sale, the executive vice president now owns 99,644 shares in the company, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LNC. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Barclays raised their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. TD Cowen initiated coverage on shares of Lincoln National in a report on Wednesday, October 9th. They set a “hold” rating and a $34.00 price target on the stock. Morgan Stanley lowered their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, Wells Fargo & Company lifted their price target on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.00.

Lincoln National Price Performance

LNC stock opened at $35.01 on Tuesday. Lincoln National Co. has a one year low of $23.23 and a one year high of $36.98. The company’s fifty day moving average price is $32.47 and its 200-day moving average price is $31.70. 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 has a market capitalization of $5.96 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79.

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 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 the consensus estimate of $4.61 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Lincoln National Co. will post 6.53 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.14%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend 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.