Exchange Traded Concepts LLC Takes Position in Lincoln National Co. (NYSE:LNC)

Exchange Traded Concepts LLC bought a new stake in shares of Lincoln National Co. (NYSE:LNC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 74,359 shares of the financial services provider’s stock, valued at approximately $2,358,000.

Several other large investors have also recently made changes to their positions in LNC. Hennessy Advisors Inc. purchased a new stake in shares of Lincoln National during the 4th quarter valued at $54,189,000. International Assets Investment Management LLC increased its position in shares of Lincoln National by 3,488.2% during the 3rd quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock valued at $30,669,000 after purchasing an additional 939,447 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Lincoln National by 167.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 600,212 shares of the financial services provider’s stock valued at $18,913,000 after purchasing an additional 375,989 shares during the last quarter. Point72 Asset Management L.P. increased its position in shares of Lincoln National by 96.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 616,288 shares of the financial services provider’s stock valued at $19,167,000 after purchasing an additional 301,788 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Lincoln National by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock valued at $104,281,000 after purchasing an additional 223,129 shares during the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Piper Sandler cut their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. TD Cowen lifted their price target on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Barclays decreased their price objective on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. 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, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.40.

Lincoln National Trading Down 0.6 %

NYSE LNC opened at $33.28 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. Lincoln National Co. has a twelve month low of $25.09 and a twelve month high of $36.98. The firm has a market capitalization of $5.67 billion, a PE ratio of 23.77, a P/E/G ratio of 0.26 and a beta of 1.78. The stock’s 50 day moving average is $33.00 and its 200 day moving average is $32.32.

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 the consensus estimate of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. 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 previous year, the company posted $0.23 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. Research analysts forecast that Lincoln National Co. will post 6.97 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.41%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is 128.57%.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was 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 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

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.