Oppenheimer & Co. Inc. Cuts Stock Holdings in Lincoln National Co. (NYSE:LNC)

Oppenheimer & Co. Inc. trimmed its position in shares of Lincoln National Co. (NYSE:LNC) by 16.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,359 shares of the financial services provider’s stock after selling 6,993 shares during the period. Oppenheimer & Co. Inc.’s holdings in Lincoln National were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. grew its stake in Lincoln National by 106.7% in the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 431 shares during the period. Adirondack Trust Co. acquired a new stake in Lincoln National in the 2nd quarter valued at $31,000. Blue Trust Inc. grew its stake in Lincoln National by 535.5% in the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 905 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Lincoln National by 249.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 873 shares during the last quarter. Finally, Eastern Bank acquired a new stake in Lincoln National during the 3rd quarter worth $40,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LNC. TD Cowen began coverage on shares of Lincoln National in a research note on Wednesday, October 9th. They set a “hold” rating and a $34.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. 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 research note on Wednesday, October 2nd. Morgan Stanley lowered their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

Lincoln National Trading Down 1.0 %

NYSE:LNC opened at $35.01 on Tuesday. The stock has a fifty day moving average price of $32.47 and a two-hundred day moving average price of $31.70. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 25.00, a PEG 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. Lincoln National Co. has a 1 year low of $23.23 and a 1 year high of $36.98.

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

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid 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 is Friday, January 10th. Lincoln National’s payout ratio is currently 128.57%.

Insider Activity at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the sale, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

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.