Truist Financial Corp Sells 2,791 Shares of Lincoln National Co. (NYSE:LNC)

Truist Financial Corp decreased its position in Lincoln National Co. (NYSE:LNC) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,972 shares of the financial services provider’s stock after selling 2,791 shares during the period. Truist Financial Corp’s holdings in Lincoln National were worth $4,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its stake in shares of Lincoln National by 3,930.8% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,022 shares during the last quarter. CVA Family Office LLC bought a new position in shares of Lincoln National in the 4th quarter worth $37,000. Highlander Capital Management LLC grew its stake in shares of Lincoln National by 200.0% during the fourth quarter. Highlander Capital Management LLC now owns 1,500 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 1,000 shares during the period. Parkside Financial Bank & Trust increased its holdings in Lincoln National by 115.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,752 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 938 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Lincoln National by 47.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the financial services provider’s stock valued at $44,000 after buying an additional 571 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Stock Up 4.3 %

Lincoln National stock opened at $28.10 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.26 and a quick ratio of 0.26. The company’s 50-day moving average is $28.46 and its 200-day moving average is $26.58. The firm has a market capitalization of $4.78 billion, a PE ratio of 3.84, a P/E/G ratio of 0.18 and a beta of 1.80. Lincoln National Co. has a fifty-two week low of $18.50 and a fifty-two week high of $32.43.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.13. The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $4.44 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. Sell-side analysts anticipate that Lincoln National Co. will post 6.25 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.45 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.80 annualized dividend and a dividend yield of 6.41%. Lincoln National’s dividend payout ratio is currently 24.62%.

Wall Street Analyst Weigh In

LNC has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Lincoln National from $30.00 to $32.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their target price on Lincoln National from $26.00 to $29.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. UBS Group raised their price target on Lincoln National from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. The Goldman Sachs Group boosted their price objective on Lincoln National from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Finally, Piper Sandler lifted their price target on shares of Lincoln National from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Lincoln National presently has an average rating of “Hold” and an average target price of $28.45.

Insider Transactions at Lincoln National

In related news, Director Owen Ryan purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $25.90 per share, for a total transaction of $259,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $259,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Lincoln National Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.