KLP Kapitalforvaltning AS Grows Holdings in Lincoln National Corporation $LNC

KLP Kapitalforvaltning AS increased its position in shares of Lincoln National Corporation (NYSE:LNC) by 5.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,300 shares of the financial services provider’s stock after buying an additional 1,700 shares during the period. KLP Kapitalforvaltning AS’s holdings in Lincoln National were worth $1,221,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LNC. Prime Capital Investment Advisors LLC increased its position in shares of Lincoln National by 32.6% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 9,516 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 2,339 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of Lincoln National by 21.5% in the 2nd quarter. DAVENPORT & Co LLC now owns 34,276 shares of the financial services provider’s stock worth $1,186,000 after purchasing an additional 6,072 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Lincoln National by 11.7% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 30,041 shares of the financial services provider’s stock worth $1,039,000 after purchasing an additional 3,139 shares during the last quarter. Berger Financial Group Inc increased its position in shares of Lincoln National by 302.1% in the 2nd quarter. Berger Financial Group Inc now owns 29,283 shares of the financial services provider’s stock worth $1,013,000 after purchasing an additional 22,000 shares during the last quarter. Finally, New Century Financial Group LLC increased its position in shares of Lincoln National by 292.4% in the 2nd quarter. New Century Financial Group LLC now owns 43,679 shares of the financial services provider’s stock worth $1,511,000 after purchasing an additional 32,549 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LNC. Piper Sandler reissued a “neutral” rating and issued a $42.00 target price on shares of Lincoln National in a research report on Tuesday, October 7th. JPMorgan Chase & Co. boosted their target price on shares of Lincoln National from $38.00 to $41.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on shares of Lincoln National from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Morgan Stanley dropped their target price on shares of Lincoln National from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Finally, Barclays lifted their price target on shares of Lincoln National from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Lincoln National currently has a consensus rating of “Reduce” and a consensus target price of $43.09.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the sale, the executive vice president directly owned 123,815 shares of the company’s stock, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

Lincoln National Trading Up 2.5%

Lincoln National stock opened at $40.23 on Wednesday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $40.81 and a two-hundred day moving average price of $35.93. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 0.52 and a beta of 1.43. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $43.66.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.45. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period in the previous year, the business posted $1.87 EPS. Sell-side analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National’s dividend payout ratio is currently 31.41%.

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.