Independent Advisor Alliance Sells 21,786 Shares of Lincoln National Co. (NYSE:LNC)

Independent Advisor Alliance cut its holdings in Lincoln National Co. (NYSE:LNC) by 51.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,952 shares of the financial services provider’s stock after selling 21,786 shares during the period. Independent Advisor Alliance’s holdings in Lincoln National were worth $660,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Whittier Trust Co. grew its position in Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after buying an additional 431 shares in the last quarter. Adirondack Trust Co. acquired a new stake in Lincoln National during the second quarter worth about $31,000. Blue Trust Inc. grew its position in Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after buying an additional 905 shares in the last quarter. Larson Financial Group LLC grew its position in Lincoln National by 95.3% during the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after buying an additional 530 shares in the last quarter. Finally, Eastern Bank acquired a new stake in Lincoln National during the third quarter worth about $40,000. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Stock Up 0.3 %

NYSE LNC opened at $35.45 on Thursday. The firm has a market cap of $6.04 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. Lincoln National Co. has a one year low of $23.40 and a one year high of $36.98. The stock’s 50 day simple moving average is $33.14 and its 200 day simple moving average is $31.96. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. As a group, sell-side analysts forecast that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.08%. Lincoln National’s payout ratio is 128.57%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LNC. Wells Fargo & Company lifted their target price on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler decreased their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.25.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the transaction, the executive vice president now directly owns 99,644 shares in the company, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

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.