Lincoln National Co. (NYSE:LNC) Shares Bought by Stifel Financial Corp

Stifel Financial Corp lifted its stake in shares of Lincoln National Co. (NYSE:LNC) by 13.5% during the third quarter, Holdings Channel reports. The firm owned 239,091 shares of the financial services provider’s stock after buying an additional 28,388 shares during the period. Stifel Financial Corp’s holdings in Lincoln National were worth $7,534,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Quantinno Capital Management LP lifted its stake in Lincoln National by 14.9% in the third quarter. Quantinno Capital Management LP now owns 96,953 shares of the financial services provider’s stock valued at $3,055,000 after buying an additional 12,544 shares during the last quarter. Quarry LP increased its holdings in shares of Lincoln National by 23.2% in the 3rd quarter. Quarry LP now owns 2,793 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 526 shares during the period. Petrus Trust Company LTA acquired a new position in Lincoln National during the 3rd quarter valued at about $828,000. New Vernon Investment Management LLC acquired a new position in Lincoln National during the 3rd quarter valued at about $3,508,000. Finally, Holocene Advisors LP increased its stake in shares of Lincoln National by 127.4% in the third quarter. Holocene Advisors LP now owns 137,689 shares of the financial services provider’s stock valued at $4,339,000 after purchasing an additional 77,143 shares during the period. Institutional investors own 72.81% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 2,863 shares of the company’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 transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

LNC has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Morgan Stanley lowered their price target 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. Barclays upped their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Piper Sandler dropped their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.25.

Lincoln National Trading Down 0.3 %

Lincoln National stock opened at $32.81 on Friday. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 0.31 and a beta of 1.77. Lincoln National Co. has a 1 year low of $24.62 and a 1 year high of $36.98. The firm’s 50 day moving average price is $33.91 and its two-hundred day moving average price is $32.25. 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 (NYSE:LNC) last issued its 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. 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 for the quarter, compared to analysts’ expectations of $4.61 billion. During the same period in the previous year, the firm posted $0.23 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. On average, research analysts predict that Lincoln National Co. will post 6.62 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s payout ratio is 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.