Fifth Third Bancorp Sells 360 Shares of Lincoln National Co. (NYSE:LNC)

Fifth Third Bancorp trimmed its holdings in shares of Lincoln National Co. (NYSE:LNC) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,001 shares of the financial services provider’s stock after selling 360 shares during the period. Fifth Third Bancorp’s holdings in Lincoln National were worth $761,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. OLD National Bancorp IN boosted its stake in Lincoln National by 4.0% in the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 325 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Lincoln National by 20.2% during the 4th quarter. Versant Capital Management Inc now owns 2,104 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 354 shares during the period. Brookstone Capital Management raised its stake in Lincoln National by 6.2% in the 3rd quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 397 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Lincoln National by 13.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 411 shares during the period. Finally, Quarry LP boosted its holdings in Lincoln National by 23.2% in the 3rd quarter. Quarry LP now owns 2,793 shares of the financial services provider’s stock worth $88,000 after buying an additional 526 shares during the period. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Up 3.7 %

Shares of Lincoln National stock opened at $35.35 on Thursday. The company’s 50 day moving average price is $33.00 and its 200-day moving average price is $32.36. Lincoln National Co. has a 52-week low of $25.09 and a 52-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. The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 0.26 and a beta of 1.78.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same period last year, the company earned $0.23 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts forecast that Lincoln National Co. will post 6.97 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.09%. Lincoln National’s dividend payout ratio is 128.57%.

Insider Activity

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 owns 99,644 shares in the company, valued at approximately $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

LNC has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays reduced their target price on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler decreased their target price on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, TD Cowen raised their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.40.

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.