Algert Global LLC Sells 26,881 Shares of Lincoln National Co. (NYSE:LNC)

Algert Global LLC decreased its holdings in shares of Lincoln National Co. (NYSE:LNC) by 11.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 200,410 shares of the financial services provider’s stock after selling 26,881 shares during the period. Algert Global LLC’s holdings in Lincoln National were worth $6,315,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. boosted its stake in Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after buying an additional 431 shares during the period. Adirondack Trust Co. bought a new stake in Lincoln National during the second quarter valued at $31,000. Blue Trust Inc. boosted its stake in Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after buying an additional 905 shares during the period. Eastern Bank bought a new stake in Lincoln National during the third quarter valued at $40,000. Finally, Pathway Financial Advisers LLC bought a new stake in Lincoln National during the first quarter valued at $45,000. Institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

LNC has been the topic of a number of research reports. Morgan Stanley lowered their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. TD Cowen initiated coverage on Lincoln National in a research report on Wednesday, October 9th. They set a “hold” rating and a $34.00 price target on the stock. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price target on Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, Piper Sandler lowered their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lincoln National currently has an average rating of “Hold” and an average price target of $33.00.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Lincoln National Stock Performance

Shares of LNC opened at $35.34 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average price is $32.92 and its 200-day moving average price is $31.85. Lincoln National Co. has a 52 week low of $23.40 and a 52 week high of $36.98. The stock has a market cap of $6.02 billion, a P/E ratio of 25.24, a P/E/G ratio of 0.31 and a beta of 1.79.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The firm had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.61 billion. During the same period in the previous year, the firm posted $0.23 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Lincoln National Co. will post 6.53 earnings per share for the current fiscal 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 given a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.09%. Lincoln National’s dividend payout ratio is currently 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.