Lincoln National Co. (NYSE:LNC) Stake Cut by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its position in shares of Lincoln National Co. (NYSE:LNC) by 26.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,653 shares of the financial services provider’s stock after selling 600 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Lincoln National were worth $54,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in Lincoln National in the second quarter worth $142,148,000. Principal Financial Group Inc. increased its position in Lincoln National by 59.2% in the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock worth $95,985,000 after buying an additional 1,147,896 shares during the period. International Assets Investment Management LLC increased its position in Lincoln National by 3,488.2% in the third quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock worth $30,669,000 after buying an additional 939,447 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Lincoln National in the first quarter worth $28,649,000. Finally, AQR Capital Management LLC increased its position in Lincoln National by 49.5% in the second quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock worth $66,892,000 after buying an additional 711,951 shares during the period. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Trading Up 2.6 %

Shares of LNC stock opened at $33.61 on Thursday. The stock has a 50-day simple moving average of $31.57 and a 200 day simple moving average of $31.03. Lincoln National Co. has a fifty-two week low of $20.85 and a fifty-two week high of $36.46. The stock has a market capitalization of $5.71 billion, a P/E ratio of 4.60, a P/E/G ratio of 0.32 and a beta of 1.81. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The business had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the company posted $2.02 EPS. On average, sell-side analysts expect that Lincoln National Co. will post 5.73 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 Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.45 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.36%. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

Analyst Ratings Changes

LNC has been the topic of several analyst reports. Wells Fargo & Company increased their target price on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. 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 report on Wednesday, October 2nd. Bank of America lowered their price target on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Barclays raised their price target on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, 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 report on Monday, August 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.