Commonwealth Equity Services LLC Decreases Stock Holdings in Lincoln National Co. (NYSE:LNC)

Commonwealth Equity Services LLC lessened its holdings in Lincoln National Co. (NYSE:LNC – Get Rating) by 12.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,972 shares of the financial services provider’s stock after selling 17,202 shares during the period. Commonwealth Equity Services LLC owned 0.07% of Lincoln National worth $7,579,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new stake in shares of Lincoln National in the fourth quarter valued at about $28,000. Private Capital Group LLC lifted its stake in shares of Lincoln National by 48.2% during the first quarter. Private Capital Group LLC now owns 483 shares of the financial services provider’s stock valued at $32,000 after buying an additional 157 shares during the period. Hanson & Doremus Investment Management lifted its stake in shares of Lincoln National by 735.6% during the first quarter. Hanson & Doremus Investment Management now owns 493 shares of the financial services provider’s stock valued at $32,000 after buying an additional 434 shares during the period. Glassman Wealth Services lifted its stake in shares of Lincoln National by 136.6% during the fourth quarter. Glassman Wealth Services now owns 504 shares of the financial services provider’s stock valued at $34,000 after buying an additional 291 shares during the period. Finally, Confluence Wealth Services Inc. purchased a new position in shares of Lincoln National during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 86.40% of the company’s stock.

Lincoln National Trading Down 0.9 %

Lincoln National stock opened at $50.90 on Tuesday. The firm’s 50-day moving average is $50.46 and its 200-day moving average is $59.85. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.21 and a current ratio of 0.21. Lincoln National Co. has a 1 year low of $44.89 and a 1 year high of $77.57. The company has a market cap of $8.75 billion, a P/E ratio of 7.49, a PEG ratio of 0.31 and a beta of 1.89.

Lincoln National (NYSE:LNC – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.31). Lincoln National had a return on equity of 7.68% and a net margin of 6.62%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the business posted $1.82 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts expect that Lincoln National Co. will post 8.8 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.54%. Lincoln National’s dividend payout ratio (DPR) is presently 26.47%.

Wall Street Analyst Weigh In

Several brokerages recently commented on LNC. Evercore ISI dropped their price target on shares of Lincoln National from $78.00 to $66.00 and set an “in-line” rating for the company in a research report on Wednesday, July 6th. Citigroup began coverage on shares of Lincoln National in a research report on Monday, May 23rd. They set a “neutral” rating and a $56.00 price target for the company. Barclays dropped their price target on shares of Lincoln National from $58.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Morgan Stanley dropped their price target on shares of Lincoln National from $80.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Finally, Piper Sandler dropped their price objective on shares of Lincoln National from $70.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and a consensus target price of $64.73.

Lincoln National Profile

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Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.