Easterly Investment Partners LLC Has $19.80 Million Holdings in Lincoln National Co. (NYSE:LNC)

Easterly Investment Partners LLC increased its position in Lincoln National Co. (NYSE:LNC) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 628,329 shares of the financial services provider’s stock after purchasing an additional 30,276 shares during the period. Lincoln National makes up 1.6% of Easterly Investment Partners LLC’s investment portfolio, making the stock its 7th largest holding. Easterly Investment Partners LLC owned about 0.37% of Lincoln National worth $19,799,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Central Pacific Bank Trust Division bought a new stake in Lincoln National during the first quarter worth $25,000. Whittier Trust Co. boosted its holdings in shares of Lincoln National by 106.7% in the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after buying an additional 431 shares during the last quarter. Adirondack Trust Co. bought a new stake in Lincoln National in the second quarter worth about $31,000. Blue Trust Inc. grew its position in shares of Lincoln National by 535.5% during the 3rd 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. Finally, Allspring Global Investments Holdings LLC increased its position 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 worth $39,000 after buying an additional 873 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. TD Cowen assumed coverage on Lincoln National in a report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price objective for the company. Morgan Stanley dropped their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company raised their target price on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Piper Sandler reduced their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National currently has a consensus rating of “Hold” and an average target price of $33.00.

Lincoln National Stock Performance

LNC traded up $0.29 during midday trading on Friday, hitting $35.55. 266,768 shares of the company traded hands, compared to its average volume of 1,654,424. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. Lincoln National Co. has a 52 week low of $21.59 and a 52 week high of $36.98. The firm has a market capitalization of $6.06 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 0.33 and a beta of 1.79. The company’s 50-day moving average is $31.87 and its 200 day moving average is $31.29.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. Lincoln National’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $0.23 earnings per share. On average, research analysts expect that Lincoln National Co. will post 5.88 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 5.06%. Lincoln National’s payout ratio is currently 128.57%.

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.