RK Asset Management LLC Cuts Stock Position in Lincoln National Co. (NYSE:LNC)

RK Asset Management LLC lowered its position in Lincoln National Co. (NYSE:LNC) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,121 shares of the financial services provider’s stock after selling 2,065 shares during the quarter. Lincoln National makes up approximately 2.6% of RK Asset Management LLC’s portfolio, making the stock its 20th biggest position. RK Asset Management LLC owned about 0.06% of Lincoln National worth $3,175,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LNC. State Street Corp lifted its stake in Lincoln National by 1.3% in the third quarter. State Street Corp now owns 6,227,993 shares of the financial services provider’s stock worth $196,244,000 after purchasing an additional 79,955 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Lincoln National by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider’s stock valued at $150,104,000 after acquiring an additional 193,025 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lincoln National by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,373,487 shares of the financial services provider’s stock valued at $106,322,000 after acquiring an additional 152,622 shares during the period. Principal Financial Group Inc. grew its position in Lincoln National by 7.2% during the 3rd quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock worth $104,281,000 after acquiring an additional 223,129 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Lincoln National by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock valued at $87,970,000 after purchasing an additional 348,601 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LNC. Wells Fargo & Company raised their price target on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler decreased their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Barclays boosted their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 8th. Finally, TD Cowen boosted their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.25.

Insiders Place Their Bets

In other news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the transaction, the executive vice president now directly owns 99,644 shares in the company, valued at $3,587,184. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

Lincoln National Stock Up 1.7 %

Shares of LNC traded up $0.53 during trading hours on Friday, hitting $32.37. The company had a trading volume of 1,140,788 shares, compared to its average volume of 1,327,194. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 0.29 and a beta of 1.77. The firm has a fifty day moving average price of $33.66 and a 200-day moving average price of $32.21. Lincoln National Co. has a 52-week low of $25.09 and a 52-week high of $36.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.61 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities research analysts forecast that Lincoln National Co. will post 7.03 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.56%. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

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.