Aviva PLC trimmed its holdings in shares of Lincoln National Co. (NYSE:LNC – Get Rating) by 66.6% during the fourth quarter, HoldingsChannel reports. The fund owned 23,293 shares of the financial services provider’s stock after selling 46,494 shares during the quarter. Aviva PLC’s holdings in Lincoln National were worth $716,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Boyd Watterson Asset Management LLC OH bought a new stake in Lincoln National during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its position in shares of Lincoln National by 51.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 895 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 304 shares during the period. Achmea Investment Management B.V. acquired a new position in shares of Lincoln National in the 1st quarter worth approximately $30,000. Ronald Blue Trust Inc. lifted its position in shares of Lincoln National by 134.2% in the 4th quarter. Ronald Blue Trust Inc. now owns 712 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 408 shares during the period. Finally, Byrne Asset Management LLC acquired a new position in shares of Lincoln National in the 4th quarter worth approximately $31,000. 78.00% of the stock is owned by institutional investors.
Insider Transactions at Lincoln National
In other news, Director Gary C. Kelly bought 7,838 shares of Lincoln National stock in a transaction dated Thursday, May 11th. The stock was purchased at an average price of $25.52 per share, for a total transaction of $200,025.76. Following the purchase, the director now directly owns 15,007 shares in the company, valued at approximately $382,978.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.55% of the company’s stock.
Lincoln National Stock Performance
Lincoln National (NYSE:LNC – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.59 billion. Lincoln National had a negative net margin of 17.97% and a negative return on equity of 17.09%. Lincoln National’s quarterly revenue was down 19.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.66 EPS. Analysts expect that Lincoln National Co. will post 7.14 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on LNC shares. The Goldman Sachs Group dropped their price target on shares of Lincoln National from $39.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. 22nd Century Group restated a “maintains” rating on shares of Lincoln National in a research report on Monday, May 15th. JPMorgan Chase & Co. dropped their price target on shares of Lincoln National from $36.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 4th. Morgan Stanley dropped their target price on shares of Lincoln National from $38.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 12th. Finally, Piper Sandler dropped their target price on shares of Lincoln National from $23.00 to $22.00 in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.43.
About Lincoln National
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.
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