Lincoln National Co. (NYSE:LNC) Stock Position Lowered by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in shares of Lincoln National Co. (NYSE:LNC) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,123,920 shares of the financial services provider’s stock after selling 7,659 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.25% of Lincoln National worth $66,925,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Lincoln National in the 2nd quarter worth approximately $142,148,000. Principal Financial Group Inc. grew its position in Lincoln National by 59.2% in the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock worth $95,985,000 after buying an additional 1,147,896 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Lincoln National by 3,488.2% in the third quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock valued at $30,669,000 after buying an additional 939,447 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Lincoln National by 49.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock valued at $66,892,000 after acquiring an additional 711,951 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Lincoln National by 167.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 600,212 shares of the financial services provider’s stock worth $18,913,000 after acquiring an additional 375,989 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the transaction, the executive vice president now owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. This represents a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by company insiders.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $35.45 on Friday. The business has a fifty day simple moving average of $33.25 and a 200 day simple moving average of $31.98. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. Lincoln National Co. has a 1 year low of $23.40 and a 1 year high of $36.98. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 0.32 and a beta of 1.79.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same period in the previous year, the company earned $0.23 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, January 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.08%. Lincoln National’s dividend payout ratio (DPR) is 128.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler cut their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley reduced their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. TD Cowen lifted their target price on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.25.

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.