Lincoln National Corporation $LNC Shares Sold by Algebris UK Ltd.

Algebris UK Ltd. reduced its stake in shares of Lincoln National Corporation (NYSE:LNC) by 27.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,092,893 shares of the financial services provider’s stock after selling 416,257 shares during the period. Lincoln National accounts for about 5.0% of Algebris UK Ltd.’s portfolio, making the stock its 3rd largest holding. Algebris UK Ltd. owned approximately 0.58% of Lincoln National worth $44,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Lincoln National by 30.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,931 shares of the financial services provider’s stock worth $8,180,000 after acquiring an additional 47,419 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Lincoln National by 145.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 116,116 shares of the financial services provider’s stock valued at $4,683,000 after acquiring an additional 68,827 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Lincoln National by 101.9% in the third quarter. Commonwealth Equity Services LLC now owns 285,105 shares of the financial services provider’s stock valued at $11,498,000 after purchasing an additional 143,862 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Lincoln National by 21.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider’s stock valued at $240,051,000 after purchasing an additional 1,035,505 shares during the period. Finally, Jump Financial LLC increased its position in Lincoln National by 72.9% during the second quarter. Jump Financial LLC now owns 245,776 shares of the financial services provider’s stock worth $8,504,000 after purchasing an additional 103,591 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Stock Performance

Shares of Lincoln National stock opened at $40.35 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.28 and a quick ratio of 0.28. The stock has a market capitalization of $7.66 billion, a price-to-earnings ratio of 3.62, a price-to-earnings-growth ratio of 0.43 and a beta of 1.32. The business has a 50-day moving average of $43.05 and a 200 day moving average of $40.76. Lincoln National Corporation has a 12 month low of $27.58 and a 12 month high of $46.82.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.20. Lincoln National had a net margin of 11.49% and a return on equity of 18.77%. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the prior year, the company earned $2.06 earnings per share. As a group, sell-side analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a $0.45 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.80 annualized dividend and a dividend yield of 4.5%. Lincoln National’s payout ratio is 16.16%.

Insiders Place Their Bets

In other news, EVP John Christopher Kennedy sold 3,519 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total transaction of $155,363.85. Following the sale, the executive vice president owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Owen Ryan bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $42.17 per share, with a total value of $84,340.00. Following the completion of the acquisition, the director owned 12,000 shares of the company’s stock, valued at $506,040. This trade represents a 20.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler increased their price target on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. UBS Group lifted their price target on shares of Lincoln National from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Zacks Research lowered Lincoln National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Wells Fargo & Company raised their target price on Lincoln National from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Finally, National Bankshares set a $45.00 target price on Lincoln National in a research report on Thursday, January 8th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and a consensus target price of $46.25.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.