Dynamic Technology Lab Private Ltd Sells 20,583 Shares of Lincoln National Co. (NYSE:LNC)

Dynamic Technology Lab Private Ltd cut its holdings in Lincoln National Co. (NYSE:LNC) by 54.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 17,208 shares of the financial services provider’s stock after selling 20,583 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Lincoln National were worth $542,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LNC. Massachusetts Financial Services Co. MA acquired a new position in shares of Lincoln National in the second quarter valued at about $142,148,000. Principal Financial Group Inc. grew 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 valued at $95,985,000 after acquiring an additional 1,147,896 shares in the last quarter. International Assets Investment Management LLC grew 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 valued at $30,669,000 after acquiring an additional 939,447 shares in the last quarter. AQR Capital Management LLC grew 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 valued at $66,892,000 after acquiring an additional 711,951 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Lincoln National by 167.7% in the third quarter. Assenagon Asset Management S.A. now owns 600,212 shares of the financial services provider’s stock valued at $18,913,000 after acquiring an additional 375,989 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Trading Up 0.3 %

LNC opened at $35.56 on Friday. The company’s 50 day moving average is $33.32 and its 200-day moving average is $32.00. Lincoln National Co. has a 1-year low of $23.40 and a 1-year high of $36.98. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The company has a market cap of $6.06 billion, a P/E ratio of 25.39, a PEG ratio of 0.32 and a beta of 1.79.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. The business had revenue of $4.11 billion during 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 firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $0.23 EPS. Equities research analysts predict that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.06%. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

Insider Activity at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the transaction, the executive vice president now owns 99,644 shares in the company, valued at $3,587,184. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LNC shares. TD Cowen upped their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday. Piper Sandler reduced their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Finally, Barclays increased their price objective 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lincoln National currently has an average rating of “Hold” and a consensus target price of $33.25.

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.