Lincoln National Corporation $LNC Holdings Lowered by IFP Advisors Inc

IFP Advisors Inc trimmed its stake in shares of Lincoln National Corporation (NYSE:LNC) by 40.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,805 shares of the financial services provider’s stock after selling 1,939 shares during the quarter. IFP Advisors Inc’s holdings in Lincoln National were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State of Wyoming raised its holdings in shares of Lincoln National by 2.7% in the 1st quarter. State of Wyoming now owns 11,630 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 305 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Lincoln National by 3.0% in the 2nd quarter. Wedmont Private Capital now owns 10,749 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 311 shares in the last quarter. Baader Bank Aktiengesellschaft raised its holdings in shares of Lincoln National by 4.7% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 7,329 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 329 shares in the last quarter. MAI Capital Management raised its holdings in shares of Lincoln National by 18.1% in the 1st quarter. MAI Capital Management now owns 2,301 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 352 shares in the last quarter. Finally, Sage Rhino Capital LLC raised its holdings in shares of Lincoln National by 4.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,224 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 378 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP John Christopher Kennedy sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president directly owned 123,815 shares of the company’s stock, valued at approximately $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on LNC. Morgan Stanley dropped their target price on shares of Lincoln National from $58.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Piper Sandler reiterated a “neutral” rating and issued a $42.00 target price on shares of Lincoln National in a report on Tuesday, October 7th. National Bankshares set a $53.00 price target on shares of Lincoln National in a report on Tuesday, October 7th. Barclays boosted their price target on shares of Lincoln National from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on shares of Lincoln National from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $43.09.

Lincoln National Stock Performance

Shares of LNC opened at $38.56 on Monday. The company’s 50 day moving average price is $40.82 and its 200 day moving average price is $35.99. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $43.66. The company has a market capitalization of $7.31 billion, a PE ratio of 6.73, a PEG ratio of 0.49 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26.

Lincoln National (NYSE:LNC) 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 net margin of 6.34% and a return on equity of 19.14%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm posted $1.87 earnings per share. Research analysts expect that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.7%. Lincoln National’s payout ratio is presently 31.41%.

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.