Swiss National Bank Reduces Position in Lincoln National Co. (NYSE:LNC)

Swiss National Bank lowered its position in Lincoln National Co. (NYSE:LNC) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 331,900 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. Swiss National Bank owned approximately 0.19% of Lincoln National worth $10,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Lincoln National by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 78,144 shares of the financial services provider’s stock worth $2,496,000 after purchasing an additional 5,176 shares during the last quarter. Caxton Associates LP acquired a new position in Lincoln National in the 1st quarter valued at about $2,083,000. Kennedy Capital Management LLC acquired a new position in Lincoln National in the 1st quarter valued at about $6,719,000. Interval Partners LP purchased a new stake in Lincoln National during the 1st quarter valued at approximately $9,938,000. Finally, Innealta Capital LLC acquired a new stake in Lincoln National during the 1st quarter worth approximately $364,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Performance

NYSE LNC opened at $35.34 on Monday. The business has a 50 day moving average price of $32.92 and a 200 day moving average price of $31.87. 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 company has a market capitalization of $6.02 billion, a P/E ratio of 25.24, a PEG ratio of 0.31 and a beta of 1.79. Lincoln National Co. has a 1-year low of $23.40 and a 1-year high of $36.98.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter in the previous year, the business posted $0.23 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Sell-side analysts expect that Lincoln National Co. will post 6.53 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio is currently 128.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on LNC shares. Morgan Stanley cut their price target 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. Wells Fargo & Company upped their price objective 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 note on Thursday, November 7th. Piper Sandler dropped their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Barclays raised their price objective 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. 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 stock. According to MarketBeat.com, Lincoln National 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 that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.