State of New Jersey Common Pension Fund D Sells 699 Shares of Lincoln National Co. (NYSE:LNC)

State of New Jersey Common Pension Fund D decreased its position in Lincoln National Co. (NYSE:LNC) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,774 shares of the financial services provider’s stock after selling 699 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lincoln National were worth $1,946,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Lincoln National by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock worth $697,825,000 after acquiring an additional 166,167 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Lincoln National in the 2nd quarter worth $142,148,000. Principal Financial Group Inc. grew its stake in shares of Lincoln National by 7.2% in 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 acquiring an additional 223,129 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Lincoln National by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock valued at $87,970,000 after buying an additional 348,601 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Lincoln National by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 2,249,725 shares of the financial services provider’s stock valued at $69,966,000 after buying an additional 31,235 shares during the period. Institutional investors own 72.81% of the company’s stock.

Insider Buying and Selling at Lincoln National

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

Lincoln National Stock Performance

Shares of LNC stock opened at $35.35 on Monday. 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 firm has a fifty day moving average price of $32.35 and a 200 day moving average price of $31.65. The company has a market cap of $6.02 billion, a P/E ratio of 25.25, a PEG ratio of 0.32 and a beta of 1.79. Lincoln National Co. has a 12 month low of $23.14 and a 12 month high of $36.98.

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

Lincoln National Announces Dividend

The business 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 $0.45 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.09%. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

Analyst Ratings Changes

LNC has been the topic of several recent research reports. Wells Fargo & Company upped their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Morgan Stanley dropped their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler dropped their price objective 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. Finally, TD Cowen began coverage on shares of Lincoln National in a report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Lincoln National has a consensus rating of “Hold” and a consensus target price of $33.00.

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.