RK Asset Management LLC Sells 2,065 Shares of Lincoln National Co. (NYSE:LNC)

RK Asset Management LLC decreased its position in shares of Lincoln National Co. (NYSE:LNC) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 100,121 shares of the financial services provider’s stock after selling 2,065 shares during the quarter. Lincoln National accounts for 2.6% of RK Asset Management LLC’s investment portfolio, making the stock its 20th largest holding. RK Asset Management LLC’s holdings in Lincoln National were worth $3,175,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in LNC. State Street Corp boosted its holdings in Lincoln National by 1.3% in the 3rd quarter. State Street Corp now owns 6,227,993 shares of the financial services provider’s stock worth $196,244,000 after buying an additional 79,955 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Lincoln National by 4.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider’s stock worth $150,104,000 after acquiring an additional 193,025 shares during the period. Geode Capital Management LLC grew its position in shares of Lincoln National by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,373,487 shares of the financial services provider’s stock worth $106,322,000 after purchasing an additional 152,622 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Lincoln National by 7.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock worth $104,281,000 after purchasing an additional 223,129 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Lincoln National by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock valued at $87,970,000 after buying an additional 348,601 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LNC. TD Cowen upped their target price on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Barclays raised their price target on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. 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, Wells Fargo & Company raised their target price on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.25.

Lincoln National Trading Up 1.7 %

Lincoln National stock traded up $0.53 during midday trading on Friday, reaching $32.37. The stock had a trading volume of 1,140,788 shares, compared to its average volume of 1,327,194. Lincoln National Co. has a 52-week low of $25.09 and a 52-week high of $36.98. The company has a fifty day moving average of $33.66 and a 200 day moving average of $32.21. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 0.29 and a beta of 1.77. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. The firm 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 business’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share. On average, analysts anticipate that Lincoln National Co. will post 7.03 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.56%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio is presently 128.57%.

Insider Activity at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the sale, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

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.