Venturi Wealth Management LLC Raises Position in Lincoln National Co. (NYSE:LNC)

Venturi Wealth Management LLC lifted its stake in shares of Lincoln National Co. (NYSE:LNC) by 459.9% during the third quarter, Holdings Channel reports. The fund owned 2,083 shares of the financial services provider’s stock after acquiring an additional 1,711 shares during the period. Venturi Wealth Management LLC’s holdings in Lincoln National were worth $66,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LNC. Vanguard Group Inc. raised its position in Lincoln National by 0.8% in the 1st 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 in the last quarter. Ellis Investment Partners LLC purchased a new position in Lincoln National in the second quarter worth approximately $1,095,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lincoln National during the 1st quarter worth approximately $505,000. The Manufacturers Life Insurance Company increased its position in shares of Lincoln National by 2.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider’s stock valued at $1,252,000 after purchasing an additional 1,121 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Lincoln National in the 2nd quarter valued at approximately $673,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Morgan Stanley cut their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Piper Sandler lowered their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Barclays raised their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Finally, TD Cowen started coverage on shares of Lincoln National in a report on Wednesday, October 9th. They issued a “hold” rating and a $34.00 target price for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and an average price target of $33.00.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction that occurred 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 sale, the executive vice president now directly owns 99,644 shares in the company, valued at $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company’s stock.

Lincoln National Stock Performance

Shares of LNC stock opened at $34.92 on Friday. Lincoln National Co. has a 52-week low of $23.14 and a 52-week high of $36.98. The stock’s 50-day moving average price is $32.24 and its 200 day moving average price is $31.54. 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 stock has a market capitalization of $5.95 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping the consensus estimate of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.15%. 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.