Swiss National Bank Cuts Stock Position in Lincoln National Co. (NYSE:LNC)

Swiss National Bank cut its holdings in Lincoln National Co. (NYSE:LNCGet Rating) by 4.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 710,706 shares of the financial services provider’s stock after selling 32,900 shares during the quarter. Swiss National Bank owned 0.42% of Lincoln National worth $33,240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LNC. Apeiron RIA LLC purchased a new stake in shares of Lincoln National during the second quarter valued at $25,000. Jones Financial Companies Lllp raised its holdings in shares of Lincoln National by 294.1% in the second quarter. Jones Financial Companies Lllp now owns 536 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 400 shares in the last quarter. Arlington Partners LLC bought a new stake in shares of Lincoln National in the second quarter valued at about $27,000. Achmea Investment Management B.V. bought a new stake in shares of Lincoln National in the first quarter valued at about $30,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Lincoln National by 42.7% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,090 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 326 shares in the last quarter. 77.37% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Stock Performance

Shares of Lincoln National stock opened at $35.39 on Thursday. The business has a 50-day moving average of $45.72 and a 200 day moving average of $49.02. Lincoln National Co. has a 12 month low of $32.59 and a 12 month high of $76.40. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of -2.94, a price-to-earnings-growth ratio of 2,278.40 and a beta of 1.84. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.19 and a quick ratio of 0.19.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date is Monday, January 9th. Lincoln National’s dividend payout ratio is currently -14.94%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group downgraded shares of Lincoln National from a “buy” rating to a “hold” rating and reduced their target price for the stock from $55.00 to $51.00 in a report on Monday, October 10th. TheStreet lowered Lincoln National from a “b-” rating to a “d+” rating in a research report on Wednesday, November 2nd. Credit Suisse Group upgraded Lincoln National from an “underperform” rating to a “neutral” rating and lowered their price objective for the stock from $45.00 to $41.00 in a research report on Friday, November 4th. Citigroup lowered their price objective on Lincoln National from $53.00 to $36.00 in a research report on Wednesday. Finally, Piper Sandler downgraded Lincoln National from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $38.00 in a research note on Thursday, November 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lincoln National has an average rating of “Hold” and an average target price of $46.33.

Lincoln National Company Profile

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Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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