9,357 Shares in Lincoln National Co. (NYSE:LNC) Bought by ClearAlpha Technologies LP

ClearAlpha Technologies LP bought a new stake in Lincoln National Co. (NYSE:LNC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,357 shares of the financial services provider’s stock, valued at approximately $295,000.

Other hedge funds have also recently made changes to their positions in the company. Ellis Investment Partners LLC acquired a new stake in Lincoln National in the second quarter valued at $1,095,000. The Manufacturers Life Insurance Company raised its position in shares of Lincoln National by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider’s stock worth $1,252,000 after acquiring an additional 1,121 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Lincoln National during the second quarter worth about $673,000. Mackenzie Financial Corp bought a new stake in Lincoln National in the second quarter valued at approximately $1,548,000. Finally, Quantbot Technologies LP increased its position in Lincoln National by 46.4% during the 2nd quarter. Quantbot Technologies LP now owns 198,557 shares of the financial services provider’s stock valued at $6,175,000 after purchasing an additional 62,929 shares during the period. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Down 0.9 %

LNC stock opened at $35.23 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Co. has a fifty-two week low of $23.68 and a fifty-two week high of $36.98. The stock’s 50 day simple moving average is $33.39 and its 200 day simple moving average is $32.08. The company has a market cap of $6.00 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 0.32 and a beta of 1.77.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.61 billion. During the same period in the prior year, the firm earned $0.23 earnings per share. Lincoln National’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts expect that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is 128.57%.

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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

LNC has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays lifted their target price 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. Piper Sandler cut their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.25.

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.