CIBC Asset Management Inc Decreases Stake in Lincoln National Co. (NYSE:LNC)

CIBC Asset Management Inc lowered its stake in shares of Lincoln National Co. (NYSE:LNC) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,075 shares of the financial services provider’s stock after selling 372 shares during the period. CIBC Asset Management Inc’s holdings in Lincoln National were worth $1,830,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LNC. Allspring Global Investments Holdings LLC grew its holdings in shares of Lincoln National by 249.4% during the first 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Lincoln National by 9.3% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 36,300 shares of the financial services provider’s stock valued at $1,154,000 after acquiring an additional 3,097 shares during the last quarter. Vanguard Group Inc. raised its position in 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 valued at $697,825,000 after purchasing an additional 166,167 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Lincoln National during the first quarter valued at approximately $1,125,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Lincoln National by 1.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 213,884 shares of the financial services provider’s stock worth $6,828,000 after purchasing an additional 3,913 shares during the period. Institutional investors own 72.81% of the company’s stock.

Insider Activity at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the transaction, the executive vice president now owns 99,644 shares in the company, valued at $3,587,184. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LNC has been the subject of a number of research analyst reports. Piper Sandler lowered their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley decreased their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. TD Cowen initiated 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 for the company. Finally, Wells Fargo & Company increased their price objective 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. One research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.00.

Lincoln National Trading Down 2.5 %

LNC stock opened at $34.14 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27. The business has a 50 day simple moving average of $32.58 and a two-hundred day simple moving average of $31.75. Lincoln National Co. has a 1-year low of $23.23 and a 1-year high of $36.98. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 0.32 and a beta of 1.79.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating 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 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 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts anticipate that Lincoln National Co. will post 6.53 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, January 10th. This represents a $1.80 annualized dividend and a yield of 5.27%. Lincoln National’s payout ratio is currently 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.