US Bancorp DE Sells 20,220 Shares of Lincoln National Co. (NYSE:LNC)

US Bancorp DE decreased its stake in shares of Lincoln National Co. (NYSE:LNC) by 32.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,265 shares of the financial services provider’s stock after selling 20,220 shares during the quarter. US Bancorp DE’s holdings in Lincoln National were worth $1,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Eagle Investment Management LLC boosted its position in shares of Lincoln National by 33.0% during the first quarter. First Eagle Investment Management LLC now owns 387,800 shares of the financial services provider’s stock worth $12,382,000 after acquiring an additional 96,200 shares during the last quarter. Vanguard Group Inc. lifted its position in Lincoln National by 0.8% during the first quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock valued at $697,825,000 after purchasing an additional 166,167 shares during the last quarter. Ellis Investment Partners LLC purchased a new position in shares of Lincoln National in the 2nd quarter worth $1,095,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Lincoln National in the 1st quarter worth $505,000. Finally, SG Americas Securities LLC purchased a new position in shares of Lincoln National in the 2nd quarter worth $673,000. Institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler dropped 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 note on Wednesday, October 2nd. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday. Morgan Stanley dropped their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company lifted their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, Bank of America dropped their price objective on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.00.

Lincoln National Trading Down 4.3 %

Shares of LNC opened at $35.26 on Friday. Lincoln National Co. has a 1-year low of $21.59 and a 1-year high of $36.98. The company has a 50-day moving average of $31.87 and a 200 day moving average of $31.29. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 0.33 and a beta of 1.79. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same quarter last year, the business posted $0.23 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts expect that Lincoln National Co. will post 5.88 EPS for the current year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.10%. Lincoln National’s payout ratio is 128.57%.

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.