Lincoln National Co. (NYSE:LNC) Stock Position Trimmed by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp cut its position in Lincoln National Co. (NYSE:LNC) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 100,170 shares of the financial services provider’s stock after selling 730 shares during the quarter. Alaska Permanent Fund Corp owned about 0.06% of Lincoln National worth $2,702,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC grew its holdings in shares of Lincoln National by 2,107.9% in the 3rd quarter. Hsbc Holdings PLC now owns 4,279,462 shares of the financial services provider’s stock worth $105,703,000 after purchasing an additional 4,085,637 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Lincoln National by 53.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,157,195 shares of the financial services provider’s stock valued at $77,951,000 after buying an additional 1,098,532 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Lincoln National by 26.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,960,653 shares of the financial services provider’s stock valued at $48,409,000 after purchasing an additional 412,312 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Lincoln National by 82.1% during the third quarter. Principal Financial Group Inc. now owns 1,758,754 shares of the financial services provider’s stock worth $43,424,000 after buying an additional 792,900 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Lincoln National by 24.6% during the third quarter. Bank of New York Mellon Corp now owns 1,468,971 shares of the financial services provider’s stock worth $36,269,000 after buying an additional 289,733 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LNC. Wells Fargo & Company lifted their target price on Lincoln National from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Piper Sandler lifted their target price on Lincoln National from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. TheStreet cut Lincoln National from a “c” rating to a “d+” rating in a research report on Thursday, February 8th. Evercore ISI raised their price target on Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Lincoln National from $26.00 to $29.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.45.

Insider Buying and Selling at Lincoln National

In related news, Director Owen Ryan purchased 10,000 shares of Lincoln National stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $25.90 per share, for a total transaction of $259,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $259,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

Lincoln National Trading Down 2.6 %

Shares of Lincoln National stock traded down $0.75 during trading on Thursday, hitting $27.90. 110,573 shares of the stock traded hands, compared to its average volume of 1,864,684. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.26 and a quick ratio of 0.26. The firm’s fifty day moving average is $28.41 and its 200-day moving average is $26.38. Lincoln National Co. has a 52 week low of $18.50 and a 52 week high of $32.43.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.13. Lincoln National had a positive return on equity of 20.81% and a negative net margin of 6.46%. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $4.44 billion. As a group, equities research analysts predict that Lincoln National Co. will post 6.47 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date is Tuesday, April 9th. Lincoln National’s payout ratio is -36.07%.

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.