Lincoln National Corporation $LNC Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its stake in shares of Lincoln National Corporation (NYSE:LNC) by 17.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 148,276 shares of the financial services provider’s stock after buying an additional 22,431 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Lincoln National worth $5,980,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of Lincoln National by 1.3% during the third quarter. Arizona State Retirement System now owns 50,466 shares of the financial services provider’s stock valued at $2,035,000 after acquiring an additional 651 shares during the last quarter. Impact Partnership Wealth LLC purchased a new position in Lincoln National in the 3rd quarter valued at about $237,000. Great Lakes Advisors LLC lifted its holdings in Lincoln National by 2,049.8% in the 3rd quarter. Great Lakes Advisors LLC now owns 207,474 shares of the financial services provider’s stock valued at $8,367,000 after purchasing an additional 197,823 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Lincoln National by 24,933.3% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,253 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 2,244 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new stake in shares of Lincoln National during the third quarter worth about $1,694,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Performance

Lincoln National stock opened at $40.34 on Friday. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 3.62, a price-to-earnings-growth ratio of 0.42 and a beta of 1.30. Lincoln National Corporation has a 12 month low of $27.58 and a 12 month high of $46.82. 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’s 50-day moving average is $43.17 and its 200-day moving average is $41.14.

Lincoln National Dividend Announcement

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

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 3,519 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total value of $155,363.85. Following the transaction, the executive vice president owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. This trade represents a 2.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Owen Ryan purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $42.17 per share, with a total value of $84,340.00. Following the completion of the transaction, the director owned 12,000 shares in the company, valued at $506,040. This trade represents a 20.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on LNC shares. Wells Fargo & Company raised their target price on shares of Lincoln National from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Keefe, Bruyette & Woods lifted their price objective on Lincoln National from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. TD Cowen reiterated a “hold” rating on shares of Lincoln National in a research note on Wednesday, January 28th. Mizuho started coverage on Lincoln National in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 price target on the stock. Finally, UBS Group lifted their price target on Lincoln National from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lincoln National presently has an average rating of “Hold” and a consensus target price of $46.25.

About Lincoln National

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.