111,338 Shares in Lincoln National Co. (NYSE:LNC) Purchased by New Vernon Investment Management LLC

New Vernon Investment Management LLC acquired a new position in Lincoln National Co. (NYSE:LNC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 111,338 shares of the financial services provider’s stock, valued at approximately $3,508,000. Lincoln National comprises about 3.8% of New Vernon Investment Management LLC’s holdings, making the stock its 8th largest holding. New Vernon Investment Management LLC owned about 0.07% of Lincoln National at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LNC. Whittier Trust Co. increased its position in shares of Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 431 shares in the last quarter. Blue Trust Inc. boosted its stake in Lincoln National by 535.5% during the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 905 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Lincoln National by 95.3% during the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after buying an additional 530 shares in the last quarter. Eastern Bank acquired a new stake in shares of Lincoln National in the third quarter valued at about $40,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Lincoln National in the third quarter worth about $48,000. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Trading Down 0.9 %

Shares of NYSE:LNC traded down $0.30 during mid-day trading on Tuesday, reaching $34.93. 119,373 shares of the company were exchanged, compared to its average volume of 1,611,739. Lincoln National Co. has a 1 year low of $23.68 and a 1 year high of $36.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27. The firm’s 50-day simple moving average is $33.39 and its 200 day simple moving average is $32.08. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 0.32 and a beta of 1.77.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating 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 business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. Equities research analysts forecast that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s payout ratio is 128.57%.

Wall Street Analyst Weigh In

A number of research firms have commented on LNC. Wells Fargo & Company increased their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler reduced their price objective 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. 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 research note on Monday, August 19th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, TD Cowen boosted their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.25.

Insider Activity at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company’s stock.

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.