Dimensional Fund Advisors LP lessened its position in Lincoln National Co. (NYSE:LNC – Get Rating) by 10.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,778,147 shares of the financial services provider’s stock after selling 323,177 shares during the quarter. Dimensional Fund Advisors LP owned 1.64% of Lincoln National worth $85,343,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in LNC. State Street Corp increased its stake in Lincoln National by 20.8% in the third quarter. State Street Corp now owns 9,443,719 shares of the financial services provider’s stock worth $414,674,000 after purchasing an additional 1,628,081 shares during the period. Prana Capital Management LP increased its stake in Lincoln National by 437.3% in the 3rd quarter. Prana Capital Management LP now owns 880,799 shares of the financial services provider’s stock worth $38,676,000 after buying an additional 716,860 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Lincoln National by 630.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 691,582 shares of the financial services provider’s stock valued at $21,245,000 after buying an additional 596,848 shares in the last quarter. Invesco Ltd. boosted its position in Lincoln National by 15.9% in the 1st quarter. Invesco Ltd. now owns 3,005,501 shares of the financial services provider’s stock valued at $196,440,000 after buying an additional 411,343 shares during the period. Finally, Wedge Capital Management L L P NC grew its stake in Lincoln National by 59.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 965,996 shares of the financial services provider’s stock worth $29,675,000 after acquiring an additional 361,457 shares in the last quarter. 78.00% of the stock is owned by hedge funds and other institutional investors.
Lincoln National Trading Up 0.3 %
Shares of NYSE:LNC opened at $21.92 on Wednesday. The business’s 50-day moving average is $21.02 and its 200 day moving average is $28.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.19 and a quick ratio of 0.19. Lincoln National Co. has a 1 year low of $18.50 and a 1 year high of $58.68. The firm has a market capitalization of $3.72 billion, a P/E ratio of -1.14 and a beta of 1.76.
Insiders Place Their Bets
In related news, Director Gary C. Kelly acquired 7,838 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were purchased at an average cost of $25.52 per share, with a total value of $200,025.76. Following the completion of the acquisition, the director now directly owns 15,007 shares of the company’s stock, valued at $382,978.64. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.75% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Barclays lowered their price target on Lincoln National from $20.00 to $17.00 in a report on Wednesday, May 3rd. Piper Sandler dropped their price target on Lincoln National from $23.00 to $22.00 in a research report on Wednesday, May 3rd. The Goldman Sachs Group decreased their price objective on Lincoln National from $39.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, April 5th. JPMorgan Chase & Co. dropped their target price on shares of Lincoln National from $36.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 4th. Finally, StockNews.com initiated coverage on shares of Lincoln National in a report on Thursday, May 18th. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Lincoln National presently has an average rating of “Hold” and an average target price of $31.43.
Lincoln National Profile
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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