Lincoln National Corporation $LNC Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its holdings in Lincoln National Corporation (NYSE:LNC) by 42.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,451 shares of the financial services provider’s stock after selling 24,676 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Lincoln National were worth $1,349,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. State Street Corp boosted its position in shares of Lincoln National by 0.7% during the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock worth $214,504,000 after purchasing an additional 40,676 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Lincoln National by 1.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,916,661 shares of the financial services provider’s stock valued at $170,116,000 after purchasing an additional 61,873 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Lincoln National by 20.0% in the second quarter. First Trust Advisors LP now owns 4,645,447 shares of the financial services provider’s stock valued at $160,732,000 after purchasing an additional 774,721 shares during the period. LSV Asset Management boosted its holdings in Lincoln National by 16.9% during the second quarter. LSV Asset Management now owns 2,736,180 shares of the financial services provider’s stock worth $94,672,000 after buying an additional 394,584 shares in the last quarter. Finally, Norges Bank acquired a new position in Lincoln National during the second quarter worth about $87,362,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Insider Activity

In other news, Director Owen Ryan acquired 2,000 shares of Lincoln National stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average price of $42.17 per share, with a total value of $84,340.00. Following the completion of the purchase, the director owned 12,000 shares of the company’s stock, valued at approximately $506,040. This represents a 20.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Christopher Kennedy sold 3,519 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total transaction of $155,363.85. Following the sale, the executive vice president owned 118,985 shares in the company, valued at approximately $5,253,187.75. This trade represents a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is owned by company insiders.

Lincoln National Price Performance

LNC stock opened at $39.72 on Wednesday. The stock’s 50 day moving average price is $43.08 and its 200 day moving average price is $40.63. The firm has a market cap of $7.55 billion, a P/E ratio of 3.57, a PEG ratio of 0.43 and a beta of 1.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.28 and a current ratio of 0.28. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $46.82.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.20. Lincoln National had a return on equity of 18.77% and a net margin of 11.49%.The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the firm posted $2.06 earnings per share. On average, sell-side analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, January 12th. Lincoln National’s dividend payout ratio is 16.16%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LNC. Mizuho initiated coverage on shares of Lincoln National in a research report on Tuesday, December 16th. They set an “outperform” rating and a $52.00 price target for the company. National Bankshares set a $45.00 price objective on Lincoln National in a research note on Thursday, January 8th. Keefe, Bruyette & Woods lifted their price objective on Lincoln National from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Jefferies Financial Group upped their target price on Lincoln National from $52.00 to $59.00 and gave the company a “buy” rating in a report on Monday, December 15th. Finally, Morgan Stanley restated an “overweight” rating on shares of Lincoln National in a research report on Monday, December 15th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.25.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.