Oliver Luxxe Assets LLC Buys 20,241 Shares of Lincoln National Corporation $LNC

Oliver Luxxe Assets LLC grew its stake in Lincoln National Corporation (NYSE:LNC) by 50.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,081 shares of the financial services provider’s stock after acquiring an additional 20,241 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Lincoln National were worth $2,423,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Lincoln National by 30.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,931 shares of the financial services provider’s stock valued at $8,180,000 after buying an additional 47,419 shares in the last quarter. Jump Financial LLC lifted its position in Lincoln National by 72.9% during the second quarter. Jump Financial LLC now owns 245,776 shares of the financial services provider’s stock valued at $8,504,000 after acquiring an additional 103,591 shares during the last quarter. Focus Financial Network Inc. acquired a new stake in Lincoln National in the second quarter valued at approximately $260,000. Advisors Capital Management LLC grew its holdings in Lincoln National by 1.6% in the second quarter. Advisors Capital Management LLC now owns 550,493 shares of the financial services provider’s stock worth $19,047,000 after purchasing an additional 8,901 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Lincoln National by 61.0% during the second quarter. Osaic Holdings Inc. now owns 250,751 shares of the financial services provider’s stock worth $8,678,000 after purchasing an additional 95,015 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Insider Activity

In other Lincoln National news, EVP John Christopher Kennedy sold 3,519 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the completion of the transaction, the executive vice president directly owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. The trade was a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Owen Ryan acquired 2,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was bought at an average price of $42.17 per share, for a total transaction of $84,340.00. Following the transaction, the director owned 12,000 shares in the company, valued at approximately $506,040. This represents a 20.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LNC. Weiss Ratings reissued a “buy (b-)” rating on shares of Lincoln National in a research report on Monday, December 29th. Zacks Research downgraded Lincoln National from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Piper Sandler boosted their price target on Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Lincoln National in a research report on Monday, December 15th. Finally, Wells Fargo & Company boosted their target price on shares of Lincoln National from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Lincoln National has a consensus rating of “Hold” and a consensus price target of $46.00.

Lincoln National Price Performance

Shares of NYSE LNC opened at $43.79 on Friday. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $46.82. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.61. The firm has a market cap of $8.32 billion, a P/E ratio of 3.93, a P/E/G ratio of 0.44 and a beta of 1.32. The business’s 50 day moving average price is $43.04 and its 200 day moving average price is $40.26.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.04 EPS for the quarter, beating the consensus estimate of $1.84 by $0.20. The business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.80 billion. Lincoln National had a net margin of 11.49% and a return on equity of 18.77%. During the same period in the prior year, the firm earned $2.06 EPS. On average, sell-side analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, January 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.1%. Lincoln National’s dividend payout ratio (DPR) is presently 16.16%.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.