Altus Wealth Group LLC Increases Position in Lincoln National Co. (NYSE:LNC)

Altus Wealth Group LLC increased its stake in Lincoln National Co. (NYSE:LNC) by 40.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,847 shares of the financial services provider’s stock after acquiring an additional 3,987 shares during the period. Altus Wealth Group LLC’s holdings in Lincoln National were worth $436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Eastern Bank purchased a new stake in Lincoln National during the third quarter valued at about $40,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Lincoln National by 4,737.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 98,887 shares of the financial services provider’s stock worth $3,116,000 after purchasing an additional 96,843 shares during the period. OLD National Bancorp IN raised its stake in Lincoln National by 4.0% in the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock worth $265,000 after buying an additional 325 shares in the last quarter. Raymond James & Associates raised its stake in Lincoln National by 2.6% in the third quarter. Raymond James & Associates now owns 159,899 shares of the financial services provider’s stock worth $5,038,000 after buying an additional 4,005 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 905 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America dropped their target price on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. TD Cowen assumed coverage on shares of Lincoln National in a report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 target price on the stock. Barclays raised their target price on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised their target price on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.00.

Lincoln National Price Performance

NYSE LNC traded down $0.16 on Wednesday, reaching $32.86. The company had a trading volume of 126,115 shares, compared to its average volume of 1,640,671. The firm’s 50 day moving average price is $31.33 and its 200 day moving average price is $30.90. Lincoln National Co. has a 12 month low of $20.85 and a 12 month high of $36.46. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.59 billion, a PE ratio of 4.52, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the firm posted $2.02 EPS. As a group, equities analysts predict that Lincoln National Co. will post 5.73 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.45 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.80 annualized dividend and a yield of 5.48%. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

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.