Bank of America Corp DE Sells 171,763 Shares of Lincoln National Co. (NYSE:LNC)

Bank of America Corp DE cut its position in shares of Lincoln National Co. (NYSE:LNC) by 16.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 897,692 shares of the financial services provider’s stock after selling 171,763 shares during the period. Bank of America Corp DE owned approximately 0.53% of Lincoln National worth $28,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LNC. M Holdings Securities Inc. bought a new position in Lincoln National during the fourth quarter valued at approximately $29,000. Kapitalo Investimentos Ltda bought a new position in Lincoln National during the fourth quarter valued at approximately $32,000. Headlands Technologies LLC bought a new position in Lincoln National during the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in Lincoln National during the fourth quarter valued at approximately $36,000. Finally, Aster Capital Management DIFC Ltd raised its position in Lincoln National by 182.2% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 807 shares during the period. 72.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler decreased their price objective on Lincoln National from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Barclays upped their price objective on Lincoln National from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. UBS Group upped their price objective on Lincoln National from $32.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on Lincoln National from $36.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Finally, StockNews.com downgraded Lincoln National from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.27.

Lincoln National Trading Up 1.0%

Shares of NYSE LNC opened at $34.43 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.27 and a current ratio of 0.27. The business’s 50 day moving average price is $33.32 and its 200-day moving average price is $34.09. Lincoln National Co. has a fifty-two week low of $27.58 and a fifty-two week high of $39.85. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 1.87, a PEG ratio of 0.30 and a beta of 1.42.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. Lincoln National had a return on equity of 18.47% and a net margin of 17.76%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Lincoln National’s revenue was up 14.0% compared to the same quarter last year. On average, sell-side analysts expect that Lincoln National Co. will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were paid a $0.45 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.80 annualized dividend and a yield of 5.23%. Lincoln National’s dividend payout ratio (DPR) is currently 25.57%.

Lincoln National Company 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.