Lincoln National Co. (NYSE:LNC) Shares Sold by XTX Topco Ltd

XTX Topco Ltd cut its holdings in shares of Lincoln National Co. (NYSE:LNC) by 77.3% in the 3rd quarter, Holdings Channel reports. The fund owned 8,740 shares of the financial services provider’s stock after selling 29,709 shares during the period. XTX Topco Ltd’s holdings in Lincoln National were worth $275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LNC. Whittier Trust Co. grew its holdings in Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 431 shares in the last quarter. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 905 shares during the last quarter. Larson Financial Group LLC grew its stake in Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 530 shares in the last quarter. Eastern Bank bought a new stake in Lincoln National in the third quarter valued at about $40,000. Finally, Meeder Asset Management Inc. acquired a new stake in Lincoln National during the third quarter valued at approximately $48,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the firm’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 transaction, the executive vice president now directly owns 99,644 shares in the company, valued at $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is owned by insiders.

Lincoln National Price Performance

NYSE:LNC opened at $30.55 on Thursday. Lincoln National Co. has a 52-week low of $25.09 and a 52-week high of $36.98. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. The firm has a market cap of $5.20 billion, a P/E ratio of 21.82, a PEG ratio of 0.29 and a beta of 1.77. The business’s 50-day moving average price is $33.97 and its 200 day moving average price is $32.24.

Lincoln National (NYSE:LNC) last released its earnings results 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. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. As a group, sell-side analysts predict that Lincoln National Co. will post 6.62 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed 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 5.89%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio is presently 128.57%.

Analyst Ratings Changes

Several brokerages have recently commented on LNC. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. TD Cowen boosted their target price 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. Wells Fargo & Company increased their target price on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler lowered their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, Barclays raised their target price on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.