Cim Investment Management Inc. Reduces Stock Holdings in Lincoln National Co. (NYSE:LNC)

Cim Investment Management Inc. cut its stake in Lincoln National Co. (NYSE:LNC) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,709 shares of the financial services provider’s stock after selling 412 shares during the period. Cim Investment Management Inc.’s holdings in Lincoln National were worth $527,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ellis Investment Partners LLC purchased a new stake in shares of Lincoln National in the second quarter valued at about $1,095,000. The Manufacturers Life Insurance Company increased its position in Lincoln National by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider’s stock worth $1,252,000 after purchasing an additional 1,121 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Lincoln National in the second quarter valued at approximately $673,000. Mackenzie Financial Corp purchased a new stake in shares of Lincoln National in the second quarter valued at approximately $1,548,000. Finally, Quantbot Technologies LP raised its position in Lincoln National by 46.4% in the second quarter. Quantbot Technologies LP now owns 198,557 shares of the financial services provider’s stock worth $6,175,000 after acquiring an additional 62,929 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Performance

NYSE:LNC opened at $32.81 on Friday. Lincoln National Co. has a fifty-two week low of $24.62 and a fifty-two week high of $36.98. The firm’s 50 day moving average is $33.91 and its two-hundred day moving average is $32.25. The company has a market cap of $5.59 billion, a P/E ratio of 23.44, a P/E/G ratio of 0.29 and a beta of 1.77. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. During the same period last year, the business posted $0.23 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts expect that Lincoln National Co. will post 6.62 EPS for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 annualized dividend and a yield of 5.49%. Lincoln National’s dividend payout ratio is currently 128.57%.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on LNC shares. Piper Sandler lowered their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley dropped their target price on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays increased their target price on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lifted their price objective on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.25.

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.