Lincoln National Corporation $LNC Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC decreased its position in Lincoln National Corporation (NYSE:LNC) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,155 shares of the financial services provider’s stock after selling 757 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Lincoln National were worth $628,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CHURCHILL MANAGEMENT Corp boosted its position in Lincoln National by 1.4% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 300,271 shares of the financial services provider’s stock valued at $10,389,000 after purchasing an additional 4,039 shares during the period. Naples Global Advisors LLC boosted its position in Lincoln National by 4.9% during the 2nd quarter. Naples Global Advisors LLC now owns 63,678 shares of the financial services provider’s stock valued at $2,203,000 after purchasing an additional 2,976 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Lincoln National by 5.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 162,643 shares of the financial services provider’s stock valued at $5,627,000 after purchasing an additional 8,278 shares during the period. Loudon Investment Management LLC boosted its position in Lincoln National by 3.7% during the 2nd quarter. Loudon Investment Management LLC now owns 139,564 shares of the financial services provider’s stock valued at $4,829,000 after purchasing an additional 4,950 shares during the period. Finally, Truist Financial Corp boosted its position in Lincoln National by 4.1% during the 2nd quarter. Truist Financial Corp now owns 172,888 shares of the financial services provider’s stock valued at $5,982,000 after purchasing an additional 6,739 shares during the period. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Stock Up 1.8%

Shares of Lincoln National stock opened at $41.09 on Friday. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $43.66. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. The business’s fifty day moving average price is $40.37 and its two-hundred day moving average price is $35.79. The company has a market capitalization of $7.79 billion, a P/E ratio of 7.17, a PEG ratio of 0.55 and a beta of 1.43.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the business earned $1.87 EPS. As a group, research analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National’s payout ratio is currently 31.41%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Lincoln National in a research report on Saturday, September 27th. Keefe, Bruyette & Woods boosted their price objective on Lincoln National from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. Wells Fargo & Company restated a “positive” rating on shares of Lincoln National in a research report on Tuesday, August 5th. Wolfe Research raised Lincoln National to a “strong sell” rating in a research note on Tuesday, September 16th. Finally, Wall Street Zen raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.45.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the sale, the executive vice president owned 123,815 shares of the company’s stock, valued at approximately $4,864,691.35. The trade was a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.51% of the company’s stock.

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.