State Street Corp Has $196.24 Million Stock Position in Lincoln National Co. (NYSE:LNC)

State Street Corp increased its position in shares of Lincoln National Co. (NYSE:LNC) by 1.3% during the third quarter, Holdings Channel reports. The fund owned 6,227,993 shares of the financial services provider’s stock after acquiring an additional 79,955 shares during the quarter. State Street Corp’s holdings in Lincoln National were worth $196,244,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LNC. SG Americas Securities LLC acquired a new position in shares of Lincoln National in the 2nd quarter valued at about $673,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lincoln National by 22.0% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 32,176 shares of the financial services provider’s stock valued at $1,001,000 after buying an additional 5,804 shares during the period. Brookstone Capital Management acquired a new stake in shares of Lincoln National during the 2nd quarter valued at $210,000. Allen Wealth Management LLC grew its holdings in shares of Lincoln National by 5.6% during the 2nd quarter. Allen Wealth Management LLC now owns 46,113 shares of the financial services provider’s stock valued at $1,434,000 after acquiring an additional 2,456 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its holdings in shares of Lincoln National by 0.6% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 84,712 shares of the financial services provider’s stock worth $2,635,000 after acquiring an additional 495 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price target on Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley cut their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. TD Cowen boosted their target price on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Barclays increased their price target on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Lincoln National presently has an average rating of “Hold” and an average price target of $33.25.

Lincoln National Price Performance

NYSE LNC opened at $32.81 on Friday. Lincoln National Co. has a 1 year low of $24.62 and a 1 year high of $36.98. The company has a fifty day simple moving average of $33.91 and a 200 day simple moving average of $32.25. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The company has a market cap of $5.59 billion, a P/E ratio of 23.44, a P/E/G ratio of 0.31 and a beta of 1.77.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. On average, sell-side analysts predict that Lincoln National Co. will post 6.62 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is currently 128.57%.

About Lincoln National

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.