UBS Asset Management Americas Inc. Acquires 84,446 Shares of Lincoln National Co. (NYSE:LNC)

UBS Asset Management Americas Inc. increased its holdings in shares of Lincoln National Co. (NYSE:LNC – Get Rating) by 12.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 763,691 shares of the financial services provider’s stock after purchasing an additional 84,446 shares during the period. UBS Asset Management Americas Inc. owned 0.45% of Lincoln National worth $33,534,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Ossiam lifted its position in Lincoln National by 20.7% during the second quarter. Ossiam now owns 39,151 shares of the financial services provider’s stock worth $1,831,000 after acquiring an additional 6,715 shares during the last quarter. Lincoln National Corp lifted its position in Lincoln National by 17.6% during the third quarter. Lincoln National Corp now owns 15,535 shares of the financial services provider’s stock worth $682,000 after acquiring an additional 2,327 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Lincoln National by 209.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 51,460 shares of the financial services provider’s stock worth $2,260,000 after acquiring an additional 34,829 shares during the last quarter. Millennium Management LLC lifted its position in Lincoln National by 192.2% during the second quarter. Millennium Management LLC now owns 893,036 shares of the financial services provider’s stock worth $41,767,000 after acquiring an additional 587,419 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Lincoln National by 59.3% during the second quarter. Renaissance Technologies LLC now owns 529,274 shares of the financial services provider’s stock worth $24,754,000 after acquiring an additional 197,100 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Stock Performance

NYSE LNC opened at $23.11 on Tuesday. The firm’s fifty day moving average price is $32.29 and its two-hundred day moving average price is $38.44. The stock has a market cap of $3.91 billion, a PE ratio of -1.75 and a beta of 1.81. Lincoln National Co. has a fifty-two week low of $22.72 and a fifty-two week high of $69.91. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.19 and a current ratio of 0.19.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, April 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.79%. Lincoln National’s payout ratio is presently -13.60%.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 1,500 shares of the business’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $30.79, for a total value of $46,185.00. Following the sale, the executive vice president now owns 20,336 shares of the company’s stock, valued at $626,145.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LNC. Jefferies Financial Group downgraded shares of Lincoln National from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $40.00 to $25.00 in a research report on Friday, December 16th. Wells Fargo & Company lifted their price target on shares of Lincoln National from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, February 13th. Citigroup dropped their price target on shares of Lincoln National from $53.00 to $36.00 in a research report on Wednesday, November 16th. The Goldman Sachs Group dropped their price target on shares of Lincoln National from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, January 9th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Lincoln National from $41.00 to $33.00 in a research report on Sunday, December 18th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Lincoln National currently has an average rating of “Hold” and a consensus price target of $36.21.

Lincoln National Profile

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.