Lincoln National Co. (NYSE:LNC) Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Lincoln National Co. (NYSE:LNC) by 12.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 825,412 shares of the financial services provider’s stock after buying an additional 91,197 shares during the period. Victory Capital Management Inc. owned approximately 0.48% of Lincoln National worth $26,009,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. OLD National Bancorp IN increased its holdings in shares of Lincoln National by 4.0% in the 3rd quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 325 shares during the period. Brookstone Capital Management lifted its position in Lincoln National by 6.2% in the 3rd quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock worth $215,000 after buying an additional 397 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Lincoln National by 13.3% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock valued at $110,000 after buying an additional 411 shares during the period. Fifth Third Bancorp boosted its stake in shares of Lincoln National by 1.6% during the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock valued at $819,000 after buying an additional 420 shares during the period. Finally, Gateway Investment Advisers LLC grew its holdings in shares of Lincoln National by 4.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 426 shares in the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler reduced their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. TD Cowen assumed coverage on Lincoln National in a report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price objective on the stock. Barclays lifted their target price on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley dropped their price target 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.00.

Lincoln National Stock Up 1.2 %

LNC stock opened at $35.35 on Monday. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. The company has a 50-day moving average of $32.35 and a two-hundred day moving average of $31.65. Lincoln National Co. has a 52-week low of $23.14 and a 52-week high of $36.98. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last released its earnings results 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. 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 for the quarter, compared to analyst estimates of $4.61 billion. During the same quarter last year, the firm posted $0.23 EPS. The company’s revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Lincoln National Co. will post 6.53 EPS for the current 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. This represents a $1.80 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction that occurred 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 sale, the executive vice president now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.