Algert Global LLC Has $7.07 Million Stake in Lincoln National Co. (NYSE:LNC)

Algert Global LLC reduced its holdings in Lincoln National Co. (NYSE:LNC) by 36.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 227,291 shares of the financial services provider’s stock after selling 129,790 shares during the period. Algert Global LLC owned 0.13% of Lincoln National worth $7,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LNC. Central Pacific Bank Trust Division acquired a new stake in shares of Lincoln National in the first quarter valued at about $25,000. Whittier Trust Co. increased its position in shares of 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 purchasing an additional 431 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of Lincoln National during the 4th quarter worth approximately $27,000. Adirondack Trust Co. acquired a new stake in shares of Lincoln National in the 2nd quarter valued at approximately $31,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Lincoln National in the fourth quarter valued at $35,000. 72.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on LNC shares. Bank of America dropped their price target on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. JPMorgan Chase & Co. raised their target price on shares of Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Barclays started coverage on Lincoln National in a research report on Wednesday, September 4th. They set an “equal weight” rating and a $35.00 price target on the stock. Jefferies Financial Group raised their price objective on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Piper Sandler boosted their target price on Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. One equities research analyst has 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.64.

Lincoln National Stock Performance

LNC opened at $31.42 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. The business has a fifty day simple moving average of $31.02 and a 200 day simple moving average of $30.63. Lincoln National Co. has a 1 year low of $20.85 and a 1 year high of $36.46. The company has a market capitalization of $5.34 billion, a PE ratio of 4.30, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the company posted $2.02 earnings per share. Research analysts expect that Lincoln National Co. will post 5.71 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.73%. Lincoln National’s dividend payout ratio is presently 24.62%.

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.