Janney Montgomery Scott LLC Sells 25,199 Shares of Lincoln National Co. (NYSE:LNC)

Janney Montgomery Scott LLC decreased its position in Lincoln National Co. (NYSE:LNC) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,313 shares of the financial services provider’s stock after selling 25,199 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.09% of Lincoln National worth $4,798,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. OLD National Bancorp IN lifted its holdings in Lincoln National by 4.0% in the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 325 shares during the period. Versant Capital Management Inc lifted its holdings in Lincoln National by 20.2% in the fourth quarter. Versant Capital Management Inc now owns 2,104 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 354 shares during the period. Brookstone Capital Management lifted its holdings in Lincoln National by 6.2% in the third quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 397 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Lincoln National by 13.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock valued at $110,000 after acquiring an additional 411 shares during the period. Finally, Quarry LP increased its position in Lincoln National by 23.2% in the third quarter. Quarry LP now owns 2,793 shares of the financial services provider’s stock worth $88,000 after buying an additional 526 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler reduced their price target on 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 upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. TD Cowen upped their price target on Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays reduced their price target on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company cut their target price on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Lincoln National presently has an average rating of “Hold” and a consensus price target of $33.40.

Insider Activity

In other news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $35.35 on Thursday. The stock has a 50 day moving average of $33.00 and a 200 day moving average of $32.36. Lincoln National Co. has a 12 month low of $25.09 and a 12 month high of $36.98. The firm has a market cap of $6.02 billion, a PE ratio of 25.25, a PEG ratio of 0.26 and a beta of 1.78. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same period in the prior year, the company earned $0.23 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. On average, research analysts expect that Lincoln National Co. will post 6.97 EPS for the current fiscal year.

Lincoln National Announces Dividend

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

Lincoln National Company 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.