Cornercap Investment Counsel Inc. Has $586,000 Position in Lincoln National Co. (NYSE:LNC)

Cornercap Investment Counsel Inc. lessened its stake in Lincoln National Co. (NYSE:LNC) by 53.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,582 shares of the financial services provider’s stock after selling 21,511 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Lincoln National were worth $586,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNC. Whittier Trust Co. increased its stake in shares of Lincoln National by 106.7% in the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 431 shares during the last quarter. Adirondack Trust Co. acquired a new stake in shares of Lincoln National during the 2nd quarter valued at about $31,000. Blue Trust Inc. increased its holdings in Lincoln National by 535.5% in the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after buying an additional 905 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Lincoln National by 249.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 873 shares in the last quarter. Finally, Eastern Bank acquired a new stake in Lincoln National in the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LNC. Wells Fargo & Company lifted their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Piper Sandler reduced their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. TD Cowen assumed coverage on shares of Lincoln National in a research report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price target on the stock. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley decreased their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. 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 company’s stock. According to data from MarketBeat.com, Lincoln National presently has an average rating of “Hold” and an average target price of $33.00.

Insider Buying and Selling

In related news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the transaction, the executive vice president now directly owns 99,644 shares in the company, valued at $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Lincoln National Trading Up 1.2 %

Shares of LNC opened at $35.35 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $32.35 and a 200-day simple moving average of $31.59. Lincoln National Co. has a 1 year low of $23.14 and a 1 year high of $36.98. The stock has a market cap of $6.02 billion, a PE ratio of 25.25, a PEG ratio of 0.31 and a beta of 1.79.

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

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio is currently 128.57%.

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.