Allspring Global Investments Holdings LLC Has $5.46 Million Holdings in Lincoln National Corporation $LNC

Key Points

• Allspring Global Investments Holdings LLC has decreased its holdings in Lincoln National Corporation by 23.3%, owning approximately 156,512 shares valued at $5.46 million after selling 47,498 shares.
• Lincoln National reported an EPS of $2.36 for the last quarter, exceeding analyst expectations by $0.45, although its revenue fell short of estimates at $4.04 billion.
• The company has announced a quarterly dividend of $0.45 per share, with a payment date of November 3rd, representing a 4.6% yield based on current share prices.

Allspring Global Investments Holdings LLC reduced its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 23.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,512 shares of the financial services provider's stock after selling 47,498 shares during the period. Allspring Global Investments Holdings LLC owned about 0.09% of Lincoln National worth $5,458,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in shares of Lincoln National by 2.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,854,788 shares of the financial services provider's stock worth $174,335,000 after acquiring an additional 97,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lincoln National by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider's stock worth $110,753,000 after acquiring an additional 208,114 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Lincoln National by 6.1% during the 1st quarter. Northern Trust Corp now owns 2,566,274 shares of the financial services provider's stock worth $92,155,000 after acquiring an additional 146,667 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Lincoln National by 84.5% during the 1st quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider's stock worth $72,039,000 after acquiring an additional 935,225 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Lincoln National by 0.4% during the 1st quarter. Invesco Ltd. now owns 1,597,913 shares of the financial services provider's stock worth $57,381,000 after acquiring an additional 5,936 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the sale, the executive vice president owned 123,815 shares of the company's stock, valued at $4,864,691.35. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company's stock.

Lincoln National Trading Up 1.2%

LNC stock opened at $39.02 on Tuesday. The business has a fifty day moving average price of $40.83 and a 200 day moving average price of $36.06. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $43.66. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 6.81, a P/E/G ratio of 0.49 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.36 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $1.87 EPS. Analysts expect that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 annualized dividend and a yield of 4.6%. Lincoln National's payout ratio is currently 31.41%.

Analyst Ratings Changes

LNC has been the subject of several recent analyst reports. National Bankshares set a $53.00 price target on Lincoln National in a research note on Tuesday, October 7th. Wells Fargo & Company increased their target price on Lincoln National from $37.00 to $38.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 8th. Barclays increased their target price on Lincoln National from $42.00 to $46.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 8th. Cfra Research upgraded Lincoln National to a "hold" rating in a research note on Wednesday, August 6th. Finally, Piper Sandler restated a "neutral" rating and set a $42.00 target price on shares of Lincoln National in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Lincoln National presently has a consensus rating of "Reduce" and an average target price of $43.09.

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.

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