MML Investors Services LLC Has $1.31 Million Position in Lincoln National Co. (NYSE:LNC)

Posted by Defense World Staff on Mar 2nd, 2023

MML Investors Services LLC grew its stake in Lincoln National Co. (NYSE:LNC – Get Rating) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,836 shares of the financial services provider’s stock after acquiring an additional 491 shares during the quarter. MML Investors Services LLC’s holdings in Lincoln National were worth $1,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LNC. Achmea Investment Management B.V. acquired a new stake in Lincoln National in the first quarter worth $30,000. Jones Financial Companies Lllp raised its stake in Lincoln National by 294.1% during the 2nd quarter. Jones Financial Companies Lllp now owns 536 shares of the financial services provider’s stock worth $25,000 after buying an additional 400 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Lincoln National by 25.4% during the third quarter. Parkside Financial Bank & Trust now owns 1,017 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 206 shares in the last quarter. Dupont Capital Management Corp grew its stake in Lincoln National by 39.8% in the third quarter. Dupont Capital Management Corp now owns 1,166 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 332 shares during the period. Finally, Covestor Ltd increased its holdings in shares of Lincoln National by 704.7% in the first quarter. Covestor Ltd now owns 1,376 shares of the financial services provider’s stock worth $90,000 after acquiring an additional 1,205 shares in the last quarter. Institutional investors own 78.00% of the company’s stock.

Insider Activity

In other news, EVP John Christopher Kennedy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $30.79, for a total value of $46,185.00. Following the sale, the executive vice president now directly owns 20,336 shares of the company’s stock, valued at approximately $626,145.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.75% of the company’s stock.

Lincoln National Trading Down 2.0 %

Shares of Lincoln National stock opened at $31.10 on Thursday. Lincoln National Co. has a 12-month low of $28.61 and a 12-month high of $69.91. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.91. The business’s 50 day moving average is $32.41 and its 200-day moving average is $39.51. The stock has a market cap of $5.26 billion, a P/E ratio of -2.35 and a beta of 1.80.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Thursday, April 6th. Lincoln National’s dividend payout ratio is currently -13.60%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LNC. JPMorgan Chase & Co. cut Lincoln National from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $36.00 in a report on Friday, January 6th. StockNews.com downgraded shares of Lincoln National from a “hold” rating to a “sell” rating in a research report on Monday, November 7th. Jefferies Financial Group lowered shares of Lincoln National from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $40.00 to $25.00 in a report on Friday, December 16th. Bank of America lowered shares of Lincoln National from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $78.00 to $40.00 in a research note on Friday, November 4th. Finally, Morgan Stanley cut their price target on Lincoln National from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, February 9th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lincoln National presently has an average rating of “Hold” and a consensus price target of $36.21.

About Lincoln National

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.