State of New Jersey Common Pension Fund D Has $1.95 Million Holdings in Lincoln National Co. (NYSE:LNC)

State of New Jersey Common Pension Fund D cut its position in Lincoln National Co. (NYSE:LNC) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,774 shares of the financial services provider’s stock after selling 699 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lincoln National were worth $1,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new position in shares of Lincoln National in the second quarter worth about $142,148,000. Principal Financial Group Inc. raised its stake in shares of Lincoln National by 59.2% in the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock worth $95,985,000 after acquiring an additional 1,147,896 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Lincoln National by 3,488.2% in the third quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock worth $30,669,000 after acquiring an additional 939,447 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Lincoln National by 49.5% in the second quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock worth $66,892,000 after acquiring an additional 711,951 shares during the last quarter. Finally, Algebris UK Ltd raised its stake in shares of Lincoln National by 122.5% in the first quarter. Algebris UK Ltd now owns 861,259 shares of the financial services provider’s stock worth $25,582,000 after acquiring an additional 474,171 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Stock Up 1.2 %

Shares of NYSE LNC opened at $35.35 on Monday. The company has a market capitalization of $6.02 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. Lincoln National Co. has a 52-week low of $23.14 and a 52-week high of $36.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The company’s 50 day moving average price is $32.35 and its 200-day moving average price is $31.65.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter in the previous year, the company earned $0.23 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts forecast that Lincoln National Co. will post 6.53 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.09%. Lincoln National’s payout ratio is presently 128.57%.

Insider Activity at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the transaction, the executive vice president now owns 99,644 shares in the company, valued at approximately $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LNC shares. Piper Sandler dropped their price target 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. Morgan Stanley dropped their price target 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. TD Cowen started coverage on shares of Lincoln National in a research note on Wednesday, October 9th. They set a “hold” rating and a $34.00 price target for the company. Barclays boosted their price target on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company upped their target price on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.00.

Lincoln National 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.