Russell Investments Group Ltd. Sells 220,105 Shares of Lincoln National Co. (NYSE:LNC)

Russell Investments Group Ltd. reduced its position in Lincoln National Co. (NYSE:LNC) by 39.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 333,688 shares of the financial services provider’s stock after selling 220,105 shares during the period. Russell Investments Group Ltd.’s holdings in Lincoln National were worth $9,000,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Hsbc Holdings PLC increased its position in shares of Lincoln National by 2,107.9% during the third quarter. Hsbc Holdings PLC now owns 4,279,462 shares of the financial services provider’s stock worth $105,703,000 after purchasing an additional 4,085,637 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Lincoln National by 53.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 3,157,195 shares of the financial services provider’s stock valued at $77,951,000 after buying an additional 1,098,532 shares during the last quarter. Principal Financial Group Inc. raised its stake in Lincoln National by 82.1% in the third quarter. Principal Financial Group Inc. now owns 1,758,754 shares of the financial services provider’s stock valued at $43,424,000 after buying an additional 792,900 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Lincoln National in the 4th quarter worth approximately $19,350,000. Finally, International Assets Investment Management LLC increased its stake in Lincoln National by 2,549.8% during the 4th quarter. International Assets Investment Management LLC now owns 719,801 shares of the financial services provider’s stock valued at $19,413,000 after purchasing an additional 692,637 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Insider Transactions at Lincoln National

In related news, Director Owen Ryan purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average price of $25.90 per share, with a total value of $259,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $259,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

LNC has been the topic of a number of research analyst reports. TheStreet lowered shares of Lincoln National from a “c” rating to a “d+” rating in a report on Thursday, February 8th. Evercore ISI increased their price objective on Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Piper Sandler decreased their target price on Lincoln National from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company increased their price target on shares of Lincoln National from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Lincoln National from $26.00 to $29.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and a consensus price target of $28.27.

Lincoln National Stock Up 3.1 %

Shares of LNC opened at $28.97 on Tuesday. The stock has a 50 day moving average price of $28.50 and a 200 day moving average price of $26.63. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 0.18 and a beta of 1.80. Lincoln National Co. has a one year low of $18.50 and a one year high of $32.43.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.13. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. Equities research analysts forecast that Lincoln National Co. will post 6.25 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend was Tuesday, April 9th. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

About Lincoln National

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.