Allspring Global Investments Holdings LLC Has $5.46 Million Holdings in Lincoln National Corporation $LNC

Allspring Global Investments Holdings LLC trimmed its stake in Lincoln National Corporation (NYSE:LNC) by 23.3% in the second quarter, HoldingsChannel.com reports. The firm owned 156,512 shares of the financial services provider’s stock after selling 47,498 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Lincoln National were worth $5,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hollencrest Capital Management grew its holdings in Lincoln National by 383.2% during the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 594 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Lincoln National during the 2nd quarter worth about $29,000. Brooklyn Investment Group grew its holdings in Lincoln National by 82.9% during the 1st quarter. Brooklyn Investment Group now owns 1,156 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 524 shares during the period. Friedenthal Financial acquired a new stake in Lincoln National during the 2nd quarter worth about $42,000. Finally, CX Institutional grew its holdings in Lincoln National by 354.2% during the 2nd quarter. CX Institutional now owns 1,685 shares of the financial services provider’s stock worth $58,000 after acquiring an additional 1,314 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the transaction, the executive vice president directly owned 123,815 shares of the company’s stock, valued at $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LNC has been the subject of several research reports. Wells Fargo & Company raised their target price on Lincoln National from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Barclays raised their target price on Lincoln National from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Lincoln National in a research note on Wednesday, October 8th. Wolfe Research upgraded Lincoln National to a “strong sell” rating in a research note on Tuesday, September 16th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Lincoln National from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Lincoln National presently has a consensus rating of “Reduce” and a consensus target price of $43.09.

Lincoln National Stock Up 1.2%

Lincoln National stock opened at $39.02 on Tuesday. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $43.66. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 6.81, a P/E/G ratio of 0.49 and a beta of 1.43. 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 firm has a 50 day simple moving average of $40.83 and a 200 day simple moving average of $36.06.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.45. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period in the previous year, the business earned $1.87 earnings per share. On average, analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National’s dividend payout ratio is presently 31.41%.

Lincoln National 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.