Kingsview Wealth Management LLC Reduces Stock Position in Lincoln National Co. (NYSE:LNC)

Kingsview Wealth Management LLC cut its position in Lincoln National Co. (NYSE:LNC) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,462 shares of the financial services provider’s stock after selling 653 shares during the period. Kingsview Wealth Management LLC’s holdings in Lincoln National were worth $582,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in Lincoln National during the 2nd quarter worth approximately $142,148,000. Principal Financial Group Inc. increased its stake in shares of Lincoln National by 59.2% in the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock worth $95,985,000 after acquiring an additional 1,147,896 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Lincoln National by 3,488.2% during the third quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock worth $30,669,000 after purchasing an additional 939,447 shares during the last quarter. AQR Capital Management LLC lifted its position in Lincoln National by 49.5% during the second quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock valued at $66,892,000 after purchasing an additional 711,951 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Lincoln National by 167.7% in the third quarter. Assenagon Asset Management S.A. now owns 600,212 shares of the financial services provider’s stock valued at $18,913,000 after purchasing an additional 375,989 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Insider Activity

In related news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

Lincoln National Stock Performance

LNC opened at $35.45 on Thursday. Lincoln National Co. has a twelve month low of $23.40 and a twelve month high of $36.98. The firm has a market capitalization of $6.04 billion, a PE ratio of 25.32, a PEG ratio of 0.32 and a beta of 1.79. 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’s 50-day moving average price is $33.14 and its 200 day moving average price is $31.96.

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, 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 analyst estimates of $4.61 billion. During the same period in the prior year, the business earned $0.23 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Lincoln National Co. will post 6.53 EPS 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. Stockholders of record on Friday, January 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, January 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.08%. Lincoln National’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LNC. Barclays boosted their price objective on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. TD Cowen upped their price objective on Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday. Wells Fargo & Company lifted their target price 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 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 upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.25.

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.