Robeco Institutional Asset Management B.V. Cuts Stock Position in Lincoln National Co. (NYSE:LNC)

Robeco Institutional Asset Management B.V. trimmed its position in shares of Lincoln National Co. (NYSE:LNC – Get Rating) by 56.1% in the third quarter, Holdings Channel.com reports. The firm owned 375,339 shares of the financial services provider’s stock after selling 480,322 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Lincoln National were worth $16,480,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LNC. Ossiam lifted its position in shares of Lincoln National by 20.7% in the 2nd quarter. Ossiam now owns 39,151 shares of the financial services provider’s stock worth $1,831,000 after buying an additional 6,715 shares during the last quarter. Advisors Capital Management LLC lifted its position in Lincoln National by 8.6% in the 3rd quarter. Advisors Capital Management LLC now owns 249,515 shares of the financial services provider’s stock valued at $8,291,000 after purchasing an additional 19,834 shares during the last quarter. Lincoln National Corp raised its position in shares of Lincoln National by 17.6% during the 3rd quarter. Lincoln National Corp now owns 15,535 shares of the financial services provider’s stock worth $682,000 after buying an additional 2,327 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Lincoln National by 209.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 51,460 shares of the financial services provider’s stock worth $2,260,000 after buying an additional 34,829 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Lincoln National by 192.2% in the 2nd quarter. Millennium Management LLC now owns 893,036 shares of the financial services provider’s stock worth $41,767,000 after purchasing an additional 587,419 shares during the last quarter. 78.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LNC has been the topic of several analyst reports. Barclays downgraded shares of Lincoln National from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $35.00 to $29.00 in a research report on Monday, January 9th. Piper Sandler reduced their target price 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. Keefe, Bruyette & Woods reduced their price objective on shares of Lincoln National from $41.00 to $33.00 in a research note on Sunday, December 18th. Jefferies Financial Group cut shares of Lincoln National from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $40.00 to $25.00 in a research note on Friday, December 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Lincoln National from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, February 13th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.21.

Lincoln National Price Performance

Shares of LNC opened at $20.30 on Friday. The stock has a market capitalization of $3.44 billion, a P/E ratio of -1.53 and a beta of 1.81. Lincoln National Co. has a twelve month low of $20.18 and a twelve month high of $69.91. The company has a 50 day moving average of $31.63 and a 200-day moving average of $37.87. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.91.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 8.87%. The ex-dividend date is Thursday, April 6th. Lincoln National’s payout ratio is presently -13.60%.

Lincoln National Company Profile

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.