Lincoln National Corporation $LNC Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,031,911 shares of the financial services provider's stock after selling 54,630 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.19% of Lincoln National worth $72,966,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Hollencrest Capital Management lifted its stake in shares of Lincoln National by 383.2% during the first quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock valued at $27,000 after buying an additional 594 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Lincoln National during the fourth quarter worth $32,000. NBC Securities Inc. acquired a new stake in shares of Lincoln National during the first quarter worth $33,000. Rossby Financial LCC acquired a new stake in shares of Lincoln National during the first quarter worth $66,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Lincoln National by 40.5% during the first quarter. Versant Capital Management Inc now owns 2,957 shares of the financial services provider's stock worth $106,000 after purchasing an additional 853 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Stock Down 1.8%

Shares of LNC traded down $0.72 during midday trading on Monday, reaching $39.85. 353,321 shares of the company were exchanged, compared to its average volume of 1,970,724. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $41.08. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 6.96, a P/E/G ratio of 0.56 and a beta of 1.42. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average price of $35.22 and a 200-day moving average price of $34.68.

Lincoln National (NYSE:LNC - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the company earned $1.87 earnings per share. Research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National's payout ratio is presently 31.41%.

Analyst Ratings Changes

Several research firms have recently issued reports on LNC. Keefe, Bruyette & Woods raised their price objective on Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Wall Street Zen upgraded Lincoln National from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. National Bankshares set a $41.00 price objective on Lincoln National in a report on Monday. Morgan Stanley raised their price objective on Lincoln National from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Piper Sandler decreased 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $39.70.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 5,000 shares of the business's 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 completion of the sale, the executive vice president directly owned 123,815 shares of the company's stock, valued at $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the sale, the executive vice president directly owned 48,743 shares of the company's stock, valued at approximately $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,697 shares of company stock valued at $1,959,862. 0.54% of the stock is currently owned by insiders.

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.