Moran Wealth Management LLC Invests $2.64 Million in Lincoln National Co. (NYSE:LNC)

Moran Wealth Management LLC purchased a new stake in Lincoln National Co. (NYSE:LNC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 83,734 shares of the financial services provider’s stock, valued at approximately $2,638,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Lincoln National by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock valued at $697,825,000 after purchasing an additional 166,167 shares during the period. Ellis Investment Partners LLC purchased a new position in shares of Lincoln National in the 2nd quarter valued at about $1,095,000. The Manufacturers Life Insurance Company raised its holdings in Lincoln National by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider’s stock worth $1,252,000 after purchasing an additional 1,121 shares during the period. SG Americas Securities LLC purchased a new position in Lincoln National during the second quarter worth approximately $673,000. Finally, Keynote Financial Services LLC acquired a new stake in Lincoln National in the first quarter valued at approximately $1,135,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Price Performance

LNC stock opened at $34.86 on Friday. Lincoln National Co. has a 52-week low of $23.40 and a 52-week high of $36.98. The business has a fifty day moving average of $32.80 and a two-hundred day moving average of $31.79. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 0.30 and a beta of 1.79. 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 (NYSE:LNC) last announced its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. Lincoln National’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. As a group, research analysts anticipate that Lincoln National Co. will post 6.53 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s payout ratio is 128.57%.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the sale, the executive vice president now directly owns 99,644 shares in the company, valued at $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays increased their target price on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley lowered their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Piper Sandler decreased their target price 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. Finally, TD Cowen began coverage on Lincoln National in a research note on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.00.

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.