State of Alaska Department of Revenue Has $3.06 Million Stock Position in Lincoln National Co. (NYSE:LNC)

State of Alaska Department of Revenue cut its holdings in Lincoln National Co. (NYSE:LNC) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,124 shares of the financial services provider’s stock after selling 2,702 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Lincoln National worth $3,060,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LNC. Assenagon Asset Management S.A. increased its stake in Lincoln National by 167.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 600,212 shares of the financial services provider’s stock valued at $18,913,000 after buying an additional 375,989 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Lincoln National by 3,488.2% in the 3rd quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock valued at $30,669,000 after acquiring an additional 939,447 shares in the last quarter. Altus Wealth Group LLC increased its position in shares of Lincoln National by 40.4% in the third quarter. Altus Wealth Group LLC now owns 13,847 shares of the financial services provider’s stock valued at $436,000 after acquiring an additional 3,987 shares during the last quarter. Eastern Bank bought a new stake in Lincoln National during the third quarter worth about $40,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Lincoln National by 4,737.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 98,887 shares of the financial services provider’s stock valued at $3,116,000 after purchasing an additional 96,843 shares during the last quarter. Institutional investors own 72.81% of the company’s stock.

Lincoln National Price Performance

Shares of NYSE LNC opened at $34.75 on Friday. The business’s 50 day moving average is $31.57 and its 200-day moving average is $31.03. The firm has a market cap of $5.91 billion, a P/E ratio of 4.75, a price-to-earnings-growth ratio of 0.32 and a beta of 1.81. Lincoln National Co. has a 1-year low of $20.85 and a 1-year high of $36.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The company had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the firm earned $2.02 earnings per share. Equities research analysts predict that Lincoln National Co. will post 5.73 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 24.62%.

Analyst Upgrades and Downgrades

LNC has been the topic of several recent analyst reports. Piper Sandler lowered their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Morgan Stanley lowered their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. StockNews.com cut shares of Lincoln National from a “hold” rating to a “sell” rating in a research note on Wednesday. TD Cowen assumed coverage on shares of Lincoln National in a research note on Wednesday, October 9th. They set a “hold” rating and a $34.00 price objective on the stock. Finally, Barclays raised their target price on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.00.

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.