Goldman Sachs Group Inc. Has $69.33 Million Position in Lincoln National Co. (NYSE:LNC)

Goldman Sachs Group Inc. decreased its holdings in shares of Lincoln National Co. (NYSE:LNC) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,570,776 shares of the financial services provider’s stock after selling 507,302 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Lincoln National were worth $69,334,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Security Financial Services INC. increased its position in Lincoln National by 4.6% during the fourth quarter. Security Financial Services INC. now owns 8,803 shares of the financial services provider’s stock worth $237,000 after acquiring an additional 385 shares during the period. Allworth Financial LP grew its stake in Lincoln National by 14.4% during the fourth quarter. Allworth Financial LP now owns 4,238 shares of the financial services provider’s stock worth $114,000 after buying an additional 532 shares in the last quarter. Yousif Capital Management LLC grew its stake in Lincoln National by 0.6% during the fourth quarter. Yousif Capital Management LLC now owns 91,833 shares of the financial services provider’s stock worth $2,477,000 after buying an additional 535 shares in the last quarter. Amalgamated Bank grew its stake in Lincoln National by 0.8% during the fourth quarter. Amalgamated Bank now owns 76,960 shares of the financial services provider’s stock worth $2,076,000 after buying an additional 635 shares in the last quarter. Finally, Jacobi Capital Management LLC grew its stake in Lincoln National by 3.6% during the third quarter. Jacobi Capital Management LLC now owns 19,086 shares of the financial services provider’s stock worth $471,000 after buying an additional 657 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Insiders Place Their Bets

In other Lincoln National news, EVP Sean Woodroffe sold 55,127 shares of Lincoln National stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the transaction, the executive vice president now directly owns 198,255 shares of the company’s stock, valued at approximately $6,457,165.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

Lincoln National Trading Up 1.2 %

NYSE LNC opened at $30.80 on Tuesday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. Lincoln National Co. has a twelve month low of $20.85 and a twelve month high of $33.33. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 4.21, a price-to-earnings-growth ratio of 0.24 and a beta of 1.85. The business’s fifty day moving average is $29.97 and its 200 day moving average is $28.35.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.10 by $0.27. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. As a group, sell-side analysts expect that Lincoln National Co. will post 6 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend is Wednesday, July 10th. Lincoln National’s payout ratio is presently 24.62%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI boosted their price objective on shares of Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods raised their target price on Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company reduced their target price on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Jefferies Financial Group raised Lincoln National from a “hold” rating to a “buy” rating and raised their target price for the company from $26.00 to $34.00 in a report on Wednesday, May 22nd. Finally, Piper Sandler reduced their target price on Lincoln National from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.90.

About Lincoln National

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.