Concurrent Investment Advisors LLC Lowers Holdings in Lincoln National Co. (NYSE:LNC)

Concurrent Investment Advisors LLC cut its position in Lincoln National Co. (NYSE:LNC) by 10.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,055 shares of the financial services provider’s stock after selling 1,695 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Lincoln National were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of Lincoln National by 249.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after buying an additional 873 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lincoln National during the 1st quarter valued at $505,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Lincoln National during the 1st quarter valued at $1,339,000. Meeder Asset Management Inc. raised its position in shares of Lincoln National by 12.7% during the 1st quarter. Meeder Asset Management Inc. now owns 7,074 shares of the financial services provider’s stock valued at $226,000 after buying an additional 796 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Lincoln National by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 202,944 shares of the financial services provider’s stock valued at $6,480,000 after buying an additional 6,455 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the sale, the executive vice president now owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LNC shares. TD Cowen started coverage on shares of Lincoln National in a research report on Wednesday, October 9th. They set a “hold” rating and a $34.00 price objective on the stock. Barclays raised their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Morgan Stanley reduced their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Wells Fargo & Company increased their target price on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, Piper Sandler reduced 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. 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.00.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $34.86 on Monday. The firm has a market cap of $5.94 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 0.31 and a beta of 1.79. Lincoln National Co. has a 12-month low of $21.59 and a 12-month 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 company’s fifty day simple moving average is $31.92 and its two-hundred day simple moving average is $31.38.

Lincoln National (NYSE:LNC) last announced its earnings results 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. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. As a group, equities analysts expect that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date was Thursday, October 10th. 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.