Dynamic Technology Lab Private Ltd Sells 20,583 Shares of Lincoln National Co. (NYSE:LNC)

Dynamic Technology Lab Private Ltd trimmed its holdings in shares of Lincoln National Co. (NYSE:LNC) by 54.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,208 shares of the financial services provider’s stock after selling 20,583 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Lincoln National were worth $542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in Lincoln National by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 78,144 shares of the financial services provider’s stock valued at $2,496,000 after purchasing an additional 5,176 shares during the period. Tidal Investments LLC grew its holdings in Lincoln National by 25.6% during the first quarter. Tidal Investments LLC now owns 30,453 shares of the financial services provider’s stock valued at $972,000 after purchasing an additional 6,207 shares during the period. Cetera Investment Advisers grew its holdings in Lincoln National by 384.0% during the first quarter. Cetera Investment Advisers now owns 59,634 shares of the financial services provider’s stock valued at $1,904,000 after purchasing an additional 47,312 shares during the period. Cetera Advisors LLC grew its holdings in Lincoln National by 48.1% during the first quarter. Cetera Advisors LLC now owns 20,503 shares of the financial services provider’s stock valued at $655,000 after purchasing an additional 6,655 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Lincoln National in the first quarter valued at approximately $45,000. 72.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on LNC shares. TD Cowen upped their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday. Wells Fargo & Company upped their price target on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Piper Sandler reduced their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Morgan Stanley reduced their price target 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $33.25.

Insiders Place Their Bets

In other news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. This represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.54% of the company’s stock.

Lincoln National Stock Performance

NYSE LNC opened at $35.56 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The firm’s fifty day moving average price is $33.32 and its two-hundred day moving average price is $32.00. Lincoln National Co. has a 1 year low of $23.40 and a 1 year high of $36.98. The firm has a market capitalization of $6.06 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that Lincoln National Co. will post 6.53 EPS for the current year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is currently 128.57%.

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.