GSG Advisors LLC Has $230,000 Position in Lincoln National Co. (NYSE:LNC)

GSG Advisors LLC cut its stake in Lincoln National Co. (NYSE:LNC) by 27.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,436 shares of the financial services provider’s stock after selling 2,789 shares during the period. GSG Advisors LLC’s holdings in Lincoln National were worth $230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its holdings in Lincoln National by 249.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after buying an additional 873 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lincoln National in the first quarter valued at approximately $505,000. Texas Permanent School Fund Corp lifted its holdings in shares of Lincoln National by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 148,486 shares of the financial services provider’s stock valued at $4,741,000 after purchasing an additional 2,102 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of Lincoln National during the first quarter valued at approximately $1,339,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of Lincoln National during the first quarter valued at approximately $482,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by corporate insiders.

Lincoln National Stock Performance

LNC opened at $34.86 on Friday. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 0.34 and a beta of 1.79. The company has a fifty day moving average of $31.92 and a 200 day moving average of $31.36. Lincoln National Co. has a fifty-two week low of $21.59 and a fifty-two week high of $36.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same period last year, the company posted $0.23 EPS. The business’s revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Lincoln National Co. will post 6.31 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.16%. Lincoln National’s dividend payout ratio is presently 128.57%.

Analyst Ratings Changes

A number of research firms have issued reports on LNC. Morgan Stanley decreased their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company raised their price target on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays lifted their price target on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler dropped their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $33.00.

Lincoln National Company Profile

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.