Swiss National Bank Sells 49,606 Shares of Lincoln National Co. (NYSE:LNC)

Posted by on May 13th, 2023

Swiss National Bank lessened its holdings in shares of Lincoln National Co. (NYSE:LNC – Get Rating) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 659,700 shares of the financial services provider’s stock after selling 49,606 shares during the quarter. Swiss National Bank owned approximately 0.39% of Lincoln National worth $20,266,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. raised its holdings in shares of Lincoln National by 57.1% during the 4th quarter. Oppenheimer & Co. Inc. now owns 39,211 shares of the financial services provider’s stock valued at $1,205,000 after purchasing an additional 14,246 shares in the last quarter. Lincoln National Corp lifted its position in shares of Lincoln National by 53.1% in the fourth quarter. Lincoln National Corp now owns 23,782 shares of the financial services provider’s stock worth $731,000 after buying an additional 8,247 shares during the last quarter. AMG National Trust Bank boosted its stake in shares of Lincoln National by 46.9% during the 4th quarter. AMG National Trust Bank now owns 27,207 shares of the financial services provider’s stock worth $836,000 after acquiring an additional 8,680 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Lincoln National by 2.1% during the 4th quarter. Arizona State Retirement System now owns 45,774 shares of the financial services provider’s stock valued at $1,406,000 after acquiring an additional 924 shares during the last quarter. Finally, Duality Advisers LP acquired a new position in shares of Lincoln National during the 4th quarter valued at about $2,141,000. 78.00% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $19.11 on Friday. The firm has a market cap of $3.24 billion, a P/E ratio of -1.44 and a beta of 1.76. The firm’s 50-day simple moving average is $21.88 and its 200-day simple moving average is $30.34. Lincoln National Co. has a twelve month low of $18.50 and a twelve month high of $58.68. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.19 and a current ratio of 0.19.

Lincoln National (NYSE:LNC – Get Rating) last released its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.59 billion. Lincoln National had a negative return on equity of 11.85% and a negative net margin of 11.89%. The company’s quarterly revenue was down 19.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 earnings per share. As a group, research analysts expect that Lincoln National Co. will post 7.48 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, April 10th were issued a dividend of $0.45 per share. The ex-dividend date was Thursday, April 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 9.42%. Lincoln National’s payout ratio is presently -13.60%.

Wall Street Analyst Weigh In

LNC has been the subject of a number of recent analyst reports. Barclays decreased their target price on Lincoln National from $20.00 to $17.00 in a research report on Wednesday, May 3rd. Royal Bank of Canada dropped their target price on shares of Lincoln National from $31.00 to $26.00 in a report on Thursday. StockNews.com started coverage on shares of Lincoln National in a report on Thursday, March 16th. They set a “sell” rating for the company. JPMorgan Chase & Co. cut their price objective on Lincoln National from $36.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 4th. Finally, Morgan Stanley decreased their target price on Lincoln National from $38.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 12th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Lincoln National presently has an average rating of “Hold” and a consensus price target of $31.43.

Lincoln National Company Profile

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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.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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