International Assets Investment Management LLC Sells 924,222 Shares of Lincoln National Co. (NYSE:LNC)

International Assets Investment Management LLC reduced its position in Lincoln National Co. (NYSE:LNC) by 95.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,157 shares of the financial services provider’s stock after selling 924,222 shares during the quarter. International Assets Investment Management LLC’s holdings in Lincoln National were worth $1,342,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Lincoln National by 535.5% in the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 905 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 530 shares during the period. Eastern Bank purchased a new stake in shares of Lincoln National in the third quarter worth $40,000. Meeder Asset Management Inc. bought a new stake in Lincoln National during the third quarter valued at $48,000. Finally, Venturi Wealth Management LLC grew its position in Lincoln National by 459.9% during the third quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider’s stock worth $66,000 after buying an additional 1,711 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $31.40 on Thursday. The firm has a market cap of $5.35 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 0.29 and a beta of 1.78. The company’s fifty day simple moving average is $33.59 and its two-hundred day simple moving average is $32.22. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. Lincoln National Co. has a 12-month low of $25.09 and a 12-month high of $36.98.

Lincoln National (NYSE:LNC) last posted its 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 net margin of 2.51% and a return on equity of 18.15%. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same period last year, the company posted $0.23 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts expect that Lincoln National Co. will post 7.03 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently declared 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 of this dividend is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.73%. Lincoln National’s dividend payout ratio (DPR) is currently 128.57%.

Analyst Upgrades and Downgrades

LNC has been the topic of several recent analyst reports. Barclays lowered their price target on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday. Piper Sandler dropped their target price on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. TD Cowen lifted their price objective on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company increased their target price on 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 research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Lincoln National currently has a consensus rating of “Hold” and a consensus price target of $33.25.

Insider Buying and Selling

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the transaction, the executive vice president now owns 99,644 shares in the company, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.