Ameriprise Financial Inc. Sells 78,805 Shares of Lincoln National Co. (NYSE:LNC)

Ameriprise Financial Inc. decreased its holdings in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 546,777 shares of the financial services provider's stock after selling 78,805 shares during the quarter. Ameriprise Financial Inc. owned about 0.32% of Lincoln National worth $17,338,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Algert Global LLC lifted its holdings in shares of Lincoln National by 32.9% in the 4th quarter. Algert Global LLC now owns 266,344 shares of the financial services provider's stock valued at $8,446,000 after acquiring an additional 65,934 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Lincoln National by 5.9% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,236 shares of the financial services provider's stock valued at $293,000 after purchasing an additional 513 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Lincoln National during the fourth quarter valued at $32,000. Beacon Pointe Advisors LLC increased its position in Lincoln National by 11.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 53,542 shares of the financial services provider's stock valued at $1,698,000 after acquiring an additional 5,341 shares during the last quarter. Finally, Aquatic Capital Management LLC raised its stake in shares of Lincoln National by 1.8% in the fourth quarter. Aquatic Capital Management LLC now owns 54,163 shares of the financial services provider's stock valued at $1,718,000 after acquiring an additional 963 shares during the period. Institutional investors own 72.81% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI upped their price target on shares of Lincoln National from $41.00 to $44.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Piper Sandler cut their target price on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company reduced their price target on Lincoln National from $36.00 to $31.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. StockNews.com cut Lincoln National from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, Barclays increased their target price on Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Lincoln National currently has an average rating of "Hold" and an average target price of $36.82.

Lincoln National Stock Down 0.9%

Shares of LNC stock traded down $0.31 during mid-day trading on Thursday, hitting $32.32. The stock had a trading volume of 128,304 shares, compared to its average volume of 1,638,848. Lincoln National Co. has a 12-month low of $27.58 and a 12-month high of $39.85. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.27 and a quick ratio of 0.27. The firm's 50-day moving average is $33.23 and its two-hundred day moving average is $34.08. The firm has a market capitalization of $5.52 billion, a P/E ratio of 1.76, a price-to-earnings-growth ratio of 0.30 and a beta of 1.42.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. Lincoln National had a return on equity of 18.47% and a net margin of 17.76%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the previous year, the company posted $0.41 earnings per share. The firm's quarterly revenue was up 14.0% on a year-over-year basis. On average, analysts predict that Lincoln National Co. will post 7.69 earnings per share for the current fiscal year.

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.