PNC Financial Services Group Inc. Has $4.39 Million Stock Holdings in Lincoln National Co. (NYSE:LNC)

PNC Financial Services Group Inc. lowered its position in shares of Lincoln National Co. (NYSE:LNC) by 14.7% in the fourth quarter, Holdings Channel reports. The firm owned 162,583 shares of the financial services provider’s stock after selling 28,006 shares during the period. PNC Financial Services Group Inc.’s holdings in Lincoln National were worth $4,385,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LNC. Financial Gravity Asset Management Inc. increased its position in shares of Lincoln National by 3,930.8% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock valued at $26,000 after buying an additional 1,022 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of Lincoln National in the fourth quarter worth about $37,000. Highlander Capital Management LLC raised its position in shares of Lincoln National by 200.0% during the fourth quarter. Highlander Capital Management LLC now owns 1,500 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 1,000 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Lincoln National by 115.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,752 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 938 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Lincoln National by 47.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,786 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 571 shares during the period. Institutional investors own 72.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LNC shares. Jefferies Financial Group upgraded shares of Lincoln National from a “hold” rating to a “buy” rating and upped their price target for the company from $26.00 to $34.00 in a report on Wednesday. TheStreet lowered Lincoln National from a “c” rating to a “d+” rating in a report on Thursday, February 8th. Piper Sandler decreased their price objective on Lincoln National from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Wells Fargo & Company cut their target price on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lincoln National from $26.00 to $29.00 and gave the company an “underweight” rating in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $29.90.

Lincoln National Stock Up 3.2 %

Shares of LNC stock opened at $32.67 on Friday. Lincoln National Co. has a 52-week low of $20.47 and a 52-week high of $32.90. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 4.47, a PEG ratio of 0.25 and a beta of 1.80. The firm’s 50-day moving average is $29.40 and its 200-day moving average is $27.36. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.26 and a current ratio of 0.26.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.27. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. Sell-side analysts predict that Lincoln National Co. will post 5.91 EPS for the current year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.51%. The ex-dividend date is Wednesday, July 10th. Lincoln National’s payout ratio is presently 24.62%.

Lincoln National 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.