Lincoln National Co. (NYSE:LNC) Stock Position Decreased by Truist Financial Corp

Truist Financial Corp cut its position in shares of Lincoln National Co. (NYSE:LNC) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 175,656 shares of the financial services provider’s stock after selling 10,402 shares during the period. Truist Financial Corp’s holdings in Lincoln National were worth $5,570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Lincoln National by 1.3% during the 3rd quarter. State Street Corp now owns 6,227,993 shares of the financial services provider’s stock worth $196,244,000 after purchasing an additional 79,955 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Lincoln National by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider’s stock worth $150,104,000 after purchasing an additional 193,025 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lincoln National by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,373,487 shares of the financial services provider’s stock worth $106,322,000 after purchasing an additional 152,622 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Lincoln National by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock worth $104,281,000 after purchasing an additional 223,129 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Lincoln National by 9.7% during the 3rd quarter. Two Sigma Advisers LP now owns 2,355,000 shares of the financial services provider’s stock worth $74,206,000 after purchasing an additional 207,800 shares in the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $37.55 on Friday. Lincoln National Co. has a 1-year low of $25.60 and a 1-year high of $39.85. The firm has a market capitalization of $6.40 billion, a PE ratio of 2.04, a PEG ratio of 0.30 and a beta of 1.79. The business’s 50 day moving average is $33.89 and its 200-day moving average is $32.95. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.80.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.87 by $0.04. Lincoln National had a return on equity of 18.47% and a net margin of 17.76%. Sell-side analysts predict that Lincoln National Co. will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.80 annualized dividend and a yield of 4.79%. Lincoln National’s payout ratio is 9.79%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LNC shares. Evercore ISI raised their price objective on Lincoln National from $41.00 to $44.00 and gave the company an “in-line” rating in a research note on Wednesday. Barclays raised their price objective on Lincoln National from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Friday, February 7th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on Lincoln National from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price objective on Lincoln National from $28.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.10.

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.