Crossmark Global Holdings Inc. Sells 690 Shares of Lincoln National Co. (NYSE:LNC)

Crossmark Global Holdings Inc. trimmed its holdings in Lincoln National Co. (NYSE:LNCGet Rating) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,844 shares of the financial services provider’s stock after selling 690 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Lincoln National were worth $520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of LNC. American Century Companies Inc. increased its stake in Lincoln National by 11.6% during the 1st quarter. American Century Companies Inc. now owns 17,600 shares of the financial services provider’s stock valued at $1,151,000 after purchasing an additional 1,835 shares in the last quarter. Private Advisor Group LLC increased its stake in Lincoln National by 4.2% during the 1st quarter. Private Advisor Group LLC now owns 6,980 shares of the financial services provider’s stock valued at $456,000 after purchasing an additional 284 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Lincoln National by 2,066.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,768 shares of the financial services provider’s stock valued at $1,161,000 after purchasing an additional 16,948 shares in the last quarter. MetLife Investment Management LLC increased its stake in Lincoln National by 24.7% during the 1st quarter. MetLife Investment Management LLC now owns 46,808 shares of the financial services provider’s stock valued at $3,059,000 after purchasing an additional 9,279 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Lincoln National by 107.8% during the 1st quarter. Panagora Asset Management Inc. now owns 10,455 shares of the financial services provider’s stock valued at $683,000 after purchasing an additional 5,423 shares in the last quarter. 78.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Piper Sandler reduced their price objective on shares of Lincoln National from $38.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, December 20th. Morgan Stanley reduced their price target on shares of Lincoln National from $54.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 10th. TheStreet lowered shares of Lincoln National from a “b-” rating to a “d+” rating in a research note on Wednesday, November 2nd. Evercore ISI reduced their price target on shares of Lincoln National to $33.00 in a research note on Monday, December 12th. Finally, StockNews.com lowered shares of Lincoln National from a “hold” rating to a “sell” rating in a research note on Monday, November 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.36.

Lincoln National Stock Performance

LNC opened at $31.75 on Monday. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 2.69. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -2.63, a PEG ratio of 0.38 and a beta of 1.78. The company’s 50 day moving average is $33.21 and its 200 day moving average is $42.43. Lincoln National Co. has a 12-month low of $28.61 and a 12-month high of $76.40.

Lincoln National (NYSE:LNCGet Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The financial services provider reported ($10.23) earnings per share for the quarter, missing the consensus estimate of $1.93 by ($12.16). Lincoln National had a negative net margin of 10.52% and a negative return on equity of 6.59%. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.37 billion. On average, equities research analysts predict that Lincoln National Co. will post -4.28 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.67%. The ex-dividend date is Monday, January 9th. Lincoln National’s dividend payout ratio is currently -14.94%.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 1,500 shares of Lincoln National stock in a transaction that occurred on Thursday, December 15th. The shares were sold at an average price of $30.79, for a total transaction of $46,185.00. Following the transaction, the executive vice president now owns 20,336 shares of the company’s stock, valued at $626,145.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.75% of the company’s stock.

About Lincoln National

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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.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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