Altus Wealth Group LLC Acquires 3,987 Shares of Lincoln National Co. (NYSE:LNC)

Altus Wealth Group LLC boosted its holdings in shares of Lincoln National Co. (NYSE:LNC) by 40.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,847 shares of the financial services provider’s stock after purchasing an additional 3,987 shares during the period. Altus Wealth Group LLC’s holdings in Lincoln National were worth $436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of Lincoln National in the 3rd quarter valued at $40,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Lincoln National by 4,737.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 98,887 shares of the financial services provider’s stock valued at $3,116,000 after acquiring an additional 96,843 shares during the last quarter. OLD National Bancorp IN lifted its stake in shares of Lincoln National by 4.0% in the 3rd quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 325 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Lincoln National by 2.6% in the 3rd quarter. Raymond James & Associates now owns 159,899 shares of the financial services provider’s stock valued at $5,038,000 after acquiring an additional 4,005 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Lincoln National by 535.5% in the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 905 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LNC has been the subject of a number of recent research reports. Bank of America decreased their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Morgan Stanley decreased their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. StockNews.com downgraded Lincoln National from a “hold” rating to a “sell” rating in a report on Saturday. Piper Sandler decreased their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group raised their price target on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.00.

Lincoln National Stock Performance

Shares of Lincoln National stock traded down $0.16 during mid-day trading on Wednesday, hitting $32.86. 126,115 shares of the stock were exchanged, compared to its average volume of 1,640,671. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $5.59 billion, a P/E ratio of 4.52, a P/E/G ratio of 0.31 and a beta of 1.81. The company has a 50-day simple moving average of $31.33 and a 200 day simple moving average of $30.90. Lincoln National Co. has a 12 month low of $20.85 and a 12 month high of $36.46.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The business had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the firm posted $2.02 EPS. Sell-side analysts anticipate that Lincoln National Co. will post 5.73 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.48%. Lincoln National’s payout ratio is currently 24.62%.

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.