Allspring Global Investments Holdings LLC lessened its holdings in Lincoln National Co. (NYSE:LNC – Free Report) by 85.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,348 shares of the financial services provider’s stock after selling 58,755 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lincoln National were worth $267,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in LNC. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Lincoln National by 368.9% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,102 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 867 shares in the last quarter. Barrett & Company Inc. bought a new stake in Lincoln National during the first quarter worth $27,000. Achmea Investment Management B.V. bought a new stake in Lincoln National during the first quarter worth $30,000. Ameritas Advisory Services LLC bought a new stake in Lincoln National during the first quarter worth $31,000. Finally, Global Retirement Partners LLC raised its position in Lincoln National by 161.0% during the first quarter. Global Retirement Partners LLC now owns 1,835 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,132 shares in the last quarter. Institutional investors own 71.89% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on the stock. Morgan Stanley dropped their price target on shares of Lincoln National from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Wells Fargo & Company dropped their price target on shares of Lincoln National from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. StockNews.com downgraded shares of Lincoln National from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Barclays upped their price objective on shares of Lincoln National from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, August 7th. Finally, Jefferies Financial Group upped their price objective on shares of Lincoln National from $18.00 to $19.00 and gave the company an “underperform” rating in a report on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.64.
Lincoln National Trading Up 0.7 %
LNC stock opened at $22.01 on Friday. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.19 and a current ratio of 0.19. The company’s 50-day simple moving average is $23.79 and its 200 day simple moving average is $24.15. Lincoln National Co. has a 52 week low of $18.50 and a 52 week high of $39.40. The company has a market capitalization of $3.73 billion, a PE ratio of 9.29 and a beta of 1.83.
Lincoln National Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.80 annualized dividend and a dividend yield of 8.18%. Lincoln National’s dividend payout ratio (DPR) is presently 75.95%.
Lincoln National Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.
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