Quest Partners LLC Boosts Stock Position in Lincoln National Co. (NYSE:LNC)

Quest Partners LLC grew its holdings in shares of Lincoln National Co. (NYSE:LNC) by 43.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,573 shares of the financial services provider’s stock after purchasing an additional 2,282 shares during the quarter. Quest Partners LLC’s holdings in Lincoln National were worth $239,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in 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. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Piper Sandler dropped their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. TD Cowen started coverage on Lincoln National in a research report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 price target for the company. Finally, Morgan Stanley dropped their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $33.00.

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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Lincoln National Stock Down 1.0 %

LNC opened at $35.37 on Wednesday. The company has a market cap of $6.02 billion, a P/E ratio of 25.26, a P/E/G ratio of 0.32 and a beta of 1.79. Lincoln National Co. has a 12 month low of $23.40 and a 12 month high of $36.98. The business’s 50-day moving average price is $33.04 and its 200-day moving average price is $31.91. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73.

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

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 5.09%. The ex-dividend date is Friday, January 10th. Lincoln National’s payout ratio is 128.57%.

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.