Moran Wealth Management LLC Makes New $2.64 Million Investment in Lincoln National Co. (NYSE:LNC)

Moran Wealth Management LLC bought a new stake in Lincoln National Co. (NYSE:LNC) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 83,734 shares of the financial services provider’s stock, valued at approximately $2,638,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Lincoln National by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock valued at $697,825,000 after buying an additional 166,167 shares during the period. Ellis Investment Partners LLC acquired a new position in shares of Lincoln National during the second quarter worth about $1,095,000. The Manufacturers Life Insurance Company increased its stake in shares of Lincoln National by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider’s stock worth $1,252,000 after acquiring an additional 1,121 shares during the period. SG Americas Securities LLC purchased a new position in Lincoln National during the second quarter worth about $673,000. Finally, Keynote Financial Services LLC acquired a new stake in Lincoln National in the first quarter valued at about $1,135,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Up 1.7 %

LNC opened at $34.86 on Friday. The business’s fifty day simple moving average is $32.80 and its 200 day simple moving average is $31.79. Lincoln National Co. has a 52 week low of $23.40 and a 52 week high of $36.98. The firm has a market cap of $5.94 billion, a P/E ratio of 24.90, a PEG ratio of 0.30 and a beta of 1.79. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73.

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

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio is presently 128.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LNC. Piper Sandler cut their target price on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. TD Cowen initiated coverage on shares of Lincoln National in a research note on Wednesday, October 9th. They set a “hold” rating and a $34.00 price target on the stock. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Barclays increased their target price on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price target on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lincoln National has an average rating of “Hold” and a consensus price target of $33.00.

Insider Activity

In related news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the sale, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Lincoln National Company 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.