Lincoln National Co. (NYSE:LNC) Shares Sold by Virtu Financial LLC

Virtu Financial LLC decreased its position in shares of Lincoln National Co. (NYSE:LNC) by 3.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,996 shares of the financial services provider’s stock after selling 467 shares during the quarter. Virtu Financial LLC’s holdings in Lincoln National were worth $409,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LNC. SG Americas Securities LLC bought a new position in Lincoln National in the 2nd quarter worth about $673,000. Wealth Enhancement Advisory Services LLC grew its holdings in Lincoln National by 22.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 32,176 shares of the financial services provider’s stock worth $1,001,000 after buying an additional 5,804 shares in the last quarter. Brookstone Capital Management acquired a new stake in Lincoln National in the 2nd quarter valued at approximately $210,000. Nisa Investment Advisors LLC raised its stake in Lincoln National by 12.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 48,708 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 5,300 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Lincoln National by 1.6% during the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after acquiring an additional 420 shares during the period. Institutional investors own 72.81% of the company’s stock.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $32.95 on Monday. 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 $5.61 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 0.29 and a beta of 1.77. The stock has a fifty day moving average of $33.93 and a 200-day moving average of $32.25. Lincoln National Co. has a one year low of $25.09 and a one year 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, beating analysts’ consensus estimates of $1.64 by $0.42. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. Lincoln National’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. As a group, equities analysts anticipate that Lincoln National Co. will post 6.62 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.46%. Lincoln National’s dividend payout ratio is currently 128.57%.

Insider Activity at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LNC has been the topic of a number of research analyst reports. 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. Wells Fargo & Company raised their target price on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley decreased their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays boosted 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. Finally, StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.