First Heartland Consultants Inc. Sells 18,917 Shares of Lincoln National Co. (NYSE:LNC)

First Heartland Consultants Inc. lowered its stake in shares of Lincoln National Co. (NYSE:LNC) by 68.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,551 shares of the financial services provider’s stock after selling 18,917 shares during the quarter. First Heartland Consultants Inc.’s holdings in Lincoln National were worth $269,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its holdings in Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 431 shares during the last quarter. Adirondack Trust Co. bought a new position in shares of Lincoln National in the 2nd quarter valued at about $31,000. Blue Trust Inc. boosted its stake 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 valued at $33,000 after purchasing an additional 905 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Lincoln National by 249.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 873 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Lincoln National in the 3rd quarter valued at about $40,000. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

Shares of LNC stock opened at $35.01 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $5.96 billion, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. The company’s 50 day moving average price is $32.16 and its two-hundred day moving average price is $31.52. Lincoln National Co. has a 52 week low of $22.49 and a 52 week high of $36.98.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS 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 firm 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 company posted $0.23 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. On average, analysts expect that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.45 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.14%. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

Insider Activity

In other news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National 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 sale, the executive vice president now directly owns 99,644 shares in the company, valued at $3,587,184. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley reduced their target price on shares of 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. Wells Fargo & Company lifted their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler reduced their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, TD Cowen began coverage on shares of Lincoln National in a research note on Wednesday, October 9th. They set a “hold” rating and a $34.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently 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.