Bank of America Corp DE decreased its position in Lincoln National Co. (NYSE:LNC - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 897,692 shares of the financial services provider's stock after selling 171,763 shares during the quarter. Bank of America Corp DE owned 0.53% of Lincoln National worth $28,466,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. M Holdings Securities Inc. purchased a new position in shares of Lincoln National in the 4th quarter valued at about $29,000. Kapitalo Investimentos Ltda acquired a new position in Lincoln National in the fourth quarter valued at approximately $32,000. Headlands Technologies LLC purchased a new position in Lincoln National in the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. purchased a new position in Lincoln National in the fourth quarter valued at approximately $36,000. Finally, Aster Capital Management DIFC Ltd raised its holdings in Lincoln National by 182.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock worth $40,000 after purchasing an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on LNC. Wells Fargo & Company lowered their target price on shares of Lincoln National from $36.00 to $31.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Barclays upped their price objective on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Piper Sandler dropped their price objective on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. UBS Group boosted their target price on Lincoln National from $32.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Finally, StockNews.com downgraded Lincoln National from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Lincoln National currently has an average rating of "Hold" and a consensus target price of $36.82.
Check Out Our Latest Stock Report on Lincoln National
Lincoln National Stock Performance
LNC traded down $1.31 on Wednesday, hitting $32.63. 1,605,743 shares of the company traded hands, compared to its average volume of 1,643,671. Lincoln National Co. has a 12-month low of $27.58 and a 12-month high of $39.85. The company has a 50 day moving average of $33.30 and a 200-day moving average of $34.09. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $5.57 billion, a PE ratio of 1.78, a PEG ratio of 0.30 and a beta of 1.42.
Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. Lincoln National had a return on equity of 18.47% and a net margin of 17.76%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company's revenue for the quarter was up 14.0% compared to the same quarter last year. Sell-side analysts anticipate that Lincoln National Co. will post 7.69 earnings per share for the current year.
Lincoln National Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.52%. The ex-dividend date was Thursday, April 10th. Lincoln National's dividend payout ratio (DPR) is presently 25.57%.
Lincoln National Company Profile
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Free Report)
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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