First Heartland Consultants Inc. Sells 18,917 Shares of Lincoln National Co. (NYSE:LNC)

First Heartland Consultants Inc. trimmed its holdings in Lincoln National Co. (NYSE:LNC) by 68.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,551 shares of the financial services provider’s stock after selling 18,917 shares during the period. First Heartland Consultants Inc.’s holdings in Lincoln National were worth $269,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Lincoln National by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock worth $697,825,000 after buying an additional 166,167 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in shares of Lincoln National during the 2nd quarter worth $142,148,000. Principal Financial Group Inc. boosted its holdings in shares of Lincoln National by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock worth $104,281,000 after buying an additional 223,129 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Lincoln National by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock worth $87,970,000 after buying an additional 348,601 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Lincoln National by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,249,725 shares of the financial services provider’s stock worth $69,966,000 after buying an additional 31,235 shares during the period. 72.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the sale, the executive vice president now owns 99,644 shares in the company, valued at $3,587,184. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Lincoln National Trading Down 3.1 %

Shares of LNC stock opened at $35.01 on Thursday. Lincoln National Co. has a 52-week low of $22.49 and a 52-week high of $36.98. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 0.32 and a beta of 1.79. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a fifty day moving average of $32.16 and a 200-day moving average of $31.52.

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

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date was Thursday, October 10th. Lincoln National’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Ratings Changes

Several analysts recently issued reports on LNC shares. Wells Fargo & Company upped their price objective 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. TD Cowen started coverage on shares of Lincoln National in a report on Wednesday, October 9th. They set a “hold” rating and a $34.00 price objective for the company. Morgan Stanley reduced 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. Barclays increased their price target on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Piper Sandler reduced their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $33.00.

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.