Range Financial Group LLC Invests $1.08 Million in Lincoln National Co. (NYSE:LNC)

Range Financial Group LLC bought a new position in Lincoln National Co. (NYSE:LNC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 33,902 shares of the financial services provider’s stock, valued at approximately $1,075,000.

A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Lincoln National by 67.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,044 shares of the financial services provider’s stock valued at $64,000 after buying an additional 821 shares in the last quarter. TD Asset Management Inc raised its holdings in Lincoln National by 155.9% during the 2nd quarter. TD Asset Management Inc now owns 58,100 shares of the financial services provider’s stock valued at $1,807,000 after buying an additional 35,400 shares during the period. National Bank of Canada FI lifted its holdings in shares of Lincoln National by 1.0% in the 2nd quarter. National Bank of Canada FI now owns 45,854 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 468 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Lincoln National by 2.2% in the second quarter. Victory Capital Management Inc. now owns 734,215 shares of the financial services provider’s stock worth $22,834,000 after purchasing an additional 15,495 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Lincoln National by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 47,500 shares of the financial services provider’s stock valued at $1,477,000 after acquiring an additional 873 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Insider Activity

In other news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

LNC has been the subject of several research analyst reports. Barclays decreased their price target on shares of Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday. TD Cowen lifted their price objective on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company upped their price target 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. Finally, Piper Sandler reduced their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.25.

Lincoln National Stock Down 0.7 %

LNC stock traded down $0.24 during midday trading on Tuesday, hitting $31.77. The company’s stock had a trading volume of 1,378,010 shares, compared to its average volume of 1,582,188. Lincoln National Co. has a 52-week low of $25.09 and a 52-week high of $36.98. The firm has a 50-day simple moving average of $33.66 and a 200-day simple moving average of $32.23. 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 firm has a market capitalization of $5.41 billion, a P/E ratio of 22.69, a PEG ratio of 0.29 and a beta of 1.78.

Lincoln National (NYSE:LNC) last issued 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. 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 analysts’ expectations of $4.61 billion. During the same quarter last year, the company earned $0.23 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts forecast that Lincoln National Co. will post 7.03 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.67%. Lincoln National’s dividend payout ratio is presently 128.57%.

About Lincoln National

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.