FNY Investment Advisers LLC Buys New Position in Lincoln National Co. (NYSE:LNC)

FNY Investment Advisers LLC bought a new position in Lincoln National Co. (NYSE:LNC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,900 shares of the financial services provider’s stock, valued at approximately $123,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of Lincoln National by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock worth $104,281,000 after buying an additional 223,129 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Lincoln National by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider’s stock worth $1,252,000 after purchasing an additional 1,121 shares during the period. Mackenzie Financial Corp bought a new stake in Lincoln National in the second quarter valued at $1,548,000. Public Sector Pension Investment Board raised its holdings in shares of Lincoln National by 7.6% during the second quarter. Public Sector Pension Investment Board now owns 374,076 shares of the financial services provider’s stock valued at $11,634,000 after purchasing an additional 26,322 shares during the period. Finally, Range Financial Group LLC bought a new position in shares of Lincoln National during the 4th quarter worth about $1,075,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. TD Cowen boosted their price objective on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Barclays cut their target price on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company decreased their price target on shares of Lincoln National from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Piper Sandler lowered their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.40.

Lincoln National Stock Performance

NYSE LNC opened at $31.54 on Wednesday. The company has a fifty day moving average price of $33.42 and a 200-day moving average price of $32.21. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 0.29 and a beta of 1.78. 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 Co. has a 1 year low of $25.09 and a 1 year high of $36.98.

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, topping the consensus estimate of $1.64 by $0.42. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. As a group, equities research analysts predict that Lincoln National Co. will post 7.03 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s payout ratio is 128.57%.

Insider Buying and Selling

In other news, EVP John Christopher Kennedy sold 2,863 shares of the firm’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 sale, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

About Lincoln National

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.