LSV Asset Management Cuts Holdings in Lincoln National Co. (NYSE:LNC)

LSV Asset Management lessened its stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,757,276 shares of the financial services provider's stock after selling 110,100 shares during the quarter. LSV Asset Management owned about 1.63% of Lincoln National worth $74,364,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. grew its position in shares of Lincoln National by 3,930.8% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 1,022 shares during the last quarter. CVA Family Office LLC acquired a new position in Lincoln National in the 4th quarter valued at $37,000. Highlander Capital Management LLC increased its position in Lincoln National by 200.0% during the 4th quarter. Highlander Capital Management LLC now owns 1,500 shares of the financial services provider's stock worth $40,000 after buying an additional 1,000 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Lincoln National by 115.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,752 shares of the financial services provider's stock worth $43,000 after buying an additional 938 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Lincoln National by 47.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 571 shares during the period. Institutional investors own 72.81% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LNC. Jefferies Financial Group upgraded shares of Lincoln National from an "underperform" rating to a "hold" rating in a research note on Monday, February 12th. Piper Sandler increased their price target on Lincoln National from $28.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, April 5th. JPMorgan Chase & Co. lifted their price objective on Lincoln National from $26.00 to $29.00 and gave the company an "underweight" rating in a report on Tuesday, April 2nd. Wells Fargo & Company increased their target price on Lincoln National from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Thursday, April 11th. Finally, StockNews.com raised Lincoln National from a "sell" rating to a "hold" rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lincoln National currently has an average rating of "Hold" and a consensus price target of $28.45.

Lincoln National Price Performance

Shares of LNC traded up $1.17 during mid-day trading on Friday, reaching $28.10. The company had a trading volume of 1,940,141 shares, compared to its average volume of 1,703,920. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 3.84, a P/E/G ratio of 0.18 and a beta of 1.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.26 and a current ratio of 0.26. The company's 50 day simple moving average is $28.46 and its 200 day simple moving average is $26.58. Lincoln National Co. has a 1-year low of $18.50 and a 1-year high of $32.43.

Lincoln National (NYSE:LNC - Get Free Report) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.13. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $4.44 billion. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. Analysts expect that Lincoln National Co. will post 6.25 EPS for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.80 dividend on an annualized basis and a yield of 6.41%. Lincoln National's dividend payout ratio is currently 24.62%.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, Director Owen Ryan acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $25.90 per share, for a total transaction of $259,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $259,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.54% of the company's stock.

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.