Exchange Traded Concepts LLC Takes $2.36 Million Position in Lincoln National Co. (NYSE:LNC)

Exchange Traded Concepts LLC acquired a new stake in Lincoln National Co. (NYSE:LNC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 74,359 shares of the financial services provider’s stock, valued at approximately $2,358,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Lincoln National by 535.5% in 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 during the last quarter. Larson Financial Group LLC raised its holdings in shares of Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 530 shares during the last quarter. Eastern Bank acquired a new stake in shares of Lincoln National in the third quarter valued at approximately $40,000. Meeder Asset Management Inc. acquired a new stake in shares of Lincoln National in the third quarter valued at approximately $48,000. Finally, Venturi Wealth Management LLC increased its holdings in Lincoln National by 459.9% during the third quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,711 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Piper Sandler lowered their target price on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Barclays lowered their target price on shares of Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, TD Cowen lifted their price objective on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.40.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Lincoln National Trading Down 0.6 %

LNC opened at $33.28 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 0.26 and a beta of 1.78. Lincoln National Co. has a twelve month low of $25.09 and a twelve month high of $36.98. The company has a 50-day simple moving average of $33.00 and a 200 day simple moving average of $32.32.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping 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 firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts predict that Lincoln National Co. will post 6.97 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s payout ratio is 128.57%.

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.