Mutual of America Capital Management LLC Trims Stock Holdings in Lincoln National Corporation $LNC

Mutual of America Capital Management LLC lowered its stake in Lincoln National Corporation (NYSE:LNC) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,933 shares of the financial services provider’s stock after selling 2,873 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lincoln National were worth $759,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. State of Wyoming lifted its holdings in shares of Lincoln National by 2.7% in the 1st quarter. State of Wyoming now owns 11,630 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 305 shares during the last quarter. Wedmont Private Capital raised its position in Lincoln National by 3.0% in the second quarter. Wedmont Private Capital now owns 10,749 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 311 shares during the period. Baader Bank Aktiengesellschaft lifted its stake in Lincoln National by 4.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 7,329 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 329 shares in the last quarter. MAI Capital Management lifted its stake in Lincoln National by 18.1% during the first quarter. MAI Capital Management now owns 2,301 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 352 shares in the last quarter. Finally, Sage Rhino Capital LLC boosted its position in shares of Lincoln National by 4.8% during the second quarter. Sage Rhino Capital LLC now owns 8,224 shares of the financial services provider’s stock worth $285,000 after buying an additional 378 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Trading Up 1.0%

Shares of NYSE:LNC opened at $40.34 on Tuesday. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $43.66. The company’s 50 day moving average is $40.77 and its two-hundred day moving average is $36.38. The company has a market cap of $7.65 billion, a PE ratio of 7.04, a P/E/G ratio of 0.50 and a beta of 1.43. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.45. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations 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 company earned $1.87 EPS. Equities analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given 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 (DPR) is 31.41%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Lincoln National from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Lincoln National in a research report on Tuesday, October 7th. Wolfe Research upgraded shares of Lincoln National to a “strong sell” rating in a research note on Tuesday, September 16th. Morgan Stanley lowered their price objective on shares of Lincoln National from $58.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Finally, Cfra Research upgraded shares of Lincoln National to a “hold” rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $43.09.

Insider Activity

In related news, EVP John Christopher Kennedy sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares in the company, valued at $4,864,691.35. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

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.