Lincoln National Corporation $LNC Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of Lincoln National Corporation (NYSE:LNC) by 16.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,899 shares of the financial services provider’s stock after selling 16,840 shares during the period. State of Alaska Department of Revenue’s holdings in Lincoln National were worth $3,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in shares of Lincoln National by 145.5% during the third quarter. Nisa Investment Advisors LLC now owns 116,116 shares of the financial services provider’s stock worth $4,683,000 after acquiring an additional 68,827 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Lincoln National in the 3rd quarter worth $1,119,000. SG Americas Securities LLC increased its position in Lincoln National by 1.5% during the 3rd quarter. SG Americas Securities LLC now owns 29,013 shares of the financial services provider’s stock worth $1,170,000 after purchasing an additional 431 shares during the period. HB Wealth Management LLC lifted its holdings in Lincoln National by 10.8% in the third quarter. HB Wealth Management LLC now owns 23,256 shares of the financial services provider’s stock valued at $938,000 after acquiring an additional 2,266 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its position in shares of Lincoln National by 39.1% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the financial services provider’s stock valued at $1,980,000 after acquiring an additional 13,800 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $41.89 on Tuesday. The firm’s 50-day moving average price is $43.06 and its two-hundred day moving average price is $40.37. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $46.82. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 3.76, a P/E/G ratio of 0.44 and a beta of 1.32. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.61.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share (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 analysts’ expectations of $4.80 billion. Lincoln National had a return on equity of 18.77% and a net margin of 11.49%.During the same quarter last year, the business earned $2.06 earnings per share. On average, equities analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Lincoln National’s dividend payout ratio is currently 16.16%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LNC shares. Wells Fargo & Company lifted 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. Morgan Stanley reaffirmed an “overweight” rating on shares of Lincoln National in a research note on Monday, December 15th. UBS Group boosted their price objective on shares of Lincoln National from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Mizuho started coverage on Lincoln National in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 target price for the company. Finally, National Bankshares set a $45.00 price target on shares of Lincoln National in a research note on Thursday. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.00.

Insider Activity

In related news, EVP John Christopher Kennedy sold 3,519 shares of Lincoln National 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 sale, the executive vice president owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. This trade represents a 2.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Owen Ryan purchased 2,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $42.17 per share, for a total transaction of $84,340.00. Following the completion of the purchase, the director directly owned 12,000 shares in the company, valued at approximately $506,040. The trade was a 20.00% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.54% of the company’s stock.

Lincoln National Profile

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.