BluePath Capital Management LLC Lowers Holdings in Lincoln National Co. (NYSE:LNC)

BluePath Capital Management LLC decreased its holdings in Lincoln National Co. (NYSE:LNC) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,033 shares of the financial services provider’s stock after selling 3,589 shares during the quarter. BluePath Capital Management LLC’s holdings in Lincoln National were worth $663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its stake in shares of Lincoln National by 33.0% in the 1st quarter. First Eagle Investment Management LLC now owns 387,800 shares of the financial services provider’s stock valued at $12,382,000 after purchasing an additional 96,200 shares in the last quarter. 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 in the last quarter. Ellis Investment Partners LLC acquired a new position in shares of Lincoln National in the 2nd quarter valued at about $1,095,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lincoln National in the 1st quarter valued at about $505,000. Finally, SG Americas Securities LLC acquired a new position in shares of Lincoln National in the 2nd quarter valued at about $673,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Price Performance

Shares of NYSE LNC opened at $33.52 on Friday. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. Lincoln National Co. has a twelve month low of $20.85 and a twelve month high of $36.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82. The business has a 50 day simple moving average of $31.68 and a 200-day simple moving average of $31.09.

Lincoln National (NYSE:LNC) last issued 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. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same period in the prior year, the firm posted $0.23 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts expect that Lincoln National Co. will post 5.73 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Thursday, October 10th. Lincoln National’s payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

LNC has been the topic of several research analyst reports. Morgan Stanley reduced 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. Piper Sandler reduced their price target 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. StockNews.com lowered Lincoln National from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target 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. Finally, TD Cowen started coverage on Lincoln National in a research report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

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.