Geode Capital Management LLC Grows Stock Position in Lincoln National Co. (NYSE:LNC)

Geode Capital Management LLC lifted its holdings in shares of Lincoln National Co. (NYSE:LNC) by 4.7% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 3,373,487 shares of the financial services provider’s stock after acquiring an additional 152,622 shares during the period. Geode Capital Management LLC’s holdings in Lincoln National were worth $106,322,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LNC. OLD National Bancorp IN grew its position in Lincoln National by 4.0% during the 3rd quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 325 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Lincoln National by 6.2% during the third quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock valued at $215,000 after buying an additional 397 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Lincoln National by 13.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 411 shares during the period. Fifth Third Bancorp raised its stake in Lincoln National by 1.6% in the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after acquiring an additional 420 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Stock Down 5.9 %

Shares of LNC opened at $30.55 on Thursday. The stock has a 50 day moving average price of $33.97 and a 200 day moving average price of $32.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 0.29 and a beta of 1.77. Lincoln National Co. has a one year low of $25.09 and a one year high of $36.98.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Equities research analysts forecast that Lincoln National Co. will post 6.62 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is 128.57%.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the business’s 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 transaction, the executive vice president now owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Piper Sandler reduced their price objective 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. TD Cowen lifted their price objective on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays increased their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price target 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued 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 target price of $33.25.

Lincoln National 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.