Quarry LP Increases Stock Position in Lincoln National Co. (NYSE:LNC)

Quarry LP lifted its holdings in Lincoln National Co. (NYSE:LNC) by 23.2% during the third quarter, Holdings Channel reports. The institutional investor owned 2,793 shares of the financial services provider’s stock after acquiring an additional 526 shares during the quarter. Quarry LP’s holdings in Lincoln National were worth $88,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LNC. Whittier Trust Co. grew its holdings in Lincoln National by 106.7% in 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 during the period. Blue Trust Inc. boosted its position in shares of Lincoln National by 535.5% in 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 in the last quarter. Larson Financial Group LLC grew its stake in shares of Lincoln National by 95.3% in the 3rd 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 during the last quarter. Eastern Bank bought a new position in Lincoln National during the 3rd quarter valued at approximately $40,000. Finally, Meeder Asset Management Inc. purchased a new position in Lincoln National during the third quarter valued at $48,000. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Price Performance

NYSE LNC opened at $34.31 on Friday. 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 $5.84 billion, a P/E ratio of 24.51, a PEG ratio of 0.31 and a beta of 1.77. The company has a 50-day moving average price of $33.74 and a 200-day moving average price of $32.22. Lincoln National Co. has a 52 week low of $23.78 and a 52 week high of $36.98.

Lincoln National (NYSE:LNC) last released its quarterly 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. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same period last year, the firm earned $0.23 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts anticipate that Lincoln National Co. will post 6.62 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.25%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio is presently 128.57%.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LNC shares. Wells Fargo & Company raised their price target on Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. TD Cowen lifted their target price on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Piper Sandler cut their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Barclays lifted their target price on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.25.

Lincoln National 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.