Lincoln National Corporation $LNC Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of Lincoln National Corporation (NYSE:LNC) by 26.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,731 shares of the financial services provider’s stock after selling 27,441 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Lincoln National were worth $3,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Lincoln National by 0.7% in the second quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock valued at $214,504,000 after buying an additional 40,676 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Lincoln National by 21.1% in the 3rd 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 acquiring an additional 1,035,505 shares during the last quarter. First Trust Advisors LP lifted its holdings in Lincoln National by 20.0% in the 2nd quarter. First Trust Advisors LP now owns 4,645,447 shares of the financial services provider’s stock valued at $160,732,000 after acquiring an additional 774,721 shares during the last quarter. LSV Asset Management boosted its position in shares of Lincoln National by 16.9% during the 2nd quarter. LSV Asset Management now owns 2,736,180 shares of the financial services provider’s stock valued at $94,672,000 after purchasing an additional 394,584 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Lincoln National in the 2nd quarter worth approximately $87,362,000. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

Shares of LNC opened at $36.03 on Thursday. The company has a market capitalization of $6.85 billion, a PE ratio of 6.78, a PEG ratio of 1.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.27 and a current ratio of 0.27. The company’s 50 day moving average price is $42.04 and its 200 day moving average price is $41.43. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $46.82.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.35. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the business posted $1.91 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Research analysts expect that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Friday, April 10th. Lincoln National’s dividend payout ratio is presently 33.90%.

Insider Activity

In other news, EVP James Waltman Reid sold 3,050 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total transaction of $127,520.50. Following the completion of the sale, the executive vice president directly owned 118,567 shares of the company’s stock, valued at $4,957,286.27. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Christopher Kennedy sold 3,519 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. The trade was a 2.87% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on LNC. National Bank Financial set a $45.00 target price on shares of Lincoln National in a research note on Thursday, January 8th. Zacks Research cut Lincoln National from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Keefe, Bruyette & Woods raised their price objective on Lincoln National from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. UBS Group lifted their target price on Lincoln National from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Piper Sandler boosted their target price on Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lincoln National has a consensus rating of “Hold” and a consensus price target of $46.58.

Lincoln National 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.