Lincoln National Corporation $LNC Stock Holdings Reduced by Icon Advisers Inc. Co.

Key Points

• Icon Advisers cut its position in Lincoln National by 27.9% in Q3, selling 46,700 shares to hold 120,525 shares (about $4.86M), making LNC its 25th largest holding (≈1.1% of the firm's portfolio).
• Major shareholder National Life Insurance purchased 2,300,098 shares on Dec. 19 at $10.87 each (≈$25.0M), increasing its stake by 43.98% to 7,529,837 shares valued at ≈$81.85M.
• Lincoln beat quarterly expectations (EPS $2.21 vs. $1.86 consensus) and announced a quarterly dividend of $0.45 (annualized yield ~5.3%); analysts' consensus rating is "Hold" with an average target of $46.25.

Icon Advisers Inc. Co. cut its position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 27.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,525 shares of the financial services provider's stock after selling 46,700 shares during the period. Lincoln National accounts for about 1.1% of Icon Advisers Inc. Co.'s investment portfolio, making the stock its 25th largest position. Icon Advisers Inc. Co. owned approximately 0.06% of Lincoln National worth $4,861,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Lincoln National in the second quarter worth approximately $87,362,000. Vanguard Group Inc. grew its position in Lincoln National by 6.3% in the third quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider's stock worth $802,717,000 after acquiring an additional 1,183,934 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Lincoln National by 25.3% in the third quarter. Dimensional Fund Advisors LP now owns 5,730,727 shares of the financial services provider's stock worth $231,121,000 after acquiring an additional 1,157,599 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Lincoln National by 21.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider's stock worth $240,051,000 after purchasing an additional 1,035,505 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Lincoln National by 20.0% in the 2nd quarter. First Trust Advisors LP now owns 4,645,447 shares of the financial services provider's stock valued at $160,732,000 after purchasing an additional 774,721 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lincoln National news, major shareholder National Life Insuranc Lincoln acquired 2,300,098 shares of Lincoln National stock in a transaction on Friday, December 19th. The shares were bought at an average price of $10.87 per share, with a total value of $25,002,065.26. Following the completion of the purchase, the insider owned 7,529,837 shares in the company, valued at $81,849,328.19. This trade represents a 43.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sean Woodroffe sold 10,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $34.46, for a total value of $344,600.00. Following the sale, the executive vice president owned 206,159 shares in the company, valued at $7,104,239.14. The trade was a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,569 shares of company stock valued at $627,484 over the last quarter. 0.51% of the stock is owned by insiders.

Lincoln National Stock Performance

Shares of NYSE:LNC opened at $34.03 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27. The business's fifty day moving average price is $40.49 and its two-hundred day moving average price is $41.17. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $46.82. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 1.57 and a beta of 1.30.

Lincoln National (NYSE:LNC - Get Free Report) last issued its earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $1.86 by $0.35. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.85 billion. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 EPS. As a group, analysts predict 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 Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, April 10th. Lincoln National's payout ratio is presently 33.90%.

Analyst Ratings Changes

Several equities analysts have commented on LNC shares. Jefferies Financial Group increased their target price on shares of Lincoln National from $52.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, December 15th. Piper Sandler increased their price objective on Lincoln National from $42.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, December 23rd. Zacks Research lowered Lincoln National from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 4th. TD Cowen reiterated a "hold" rating on shares of Lincoln National in a report on Wednesday, January 28th. Finally, Morgan Stanley reduced their price objective on shares of Lincoln National from $50.00 to $46.00 and set an "overweight" rating for the company in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $46.25.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

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