Public Sector Pension Investment Board Sells 13,000 Shares of Lincoln National Co. (NYSE:LNC)

Public Sector Pension Investment Board decreased its stake in shares of Lincoln National Co. (NYSE:LNC) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 361,076 shares of the financial services provider’s stock after selling 13,000 shares during the quarter. Public Sector Pension Investment Board owned about 0.21% of Lincoln National worth $11,378,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LNC. Ellis Investment Partners LLC bought a new position in shares of Lincoln National during the 2nd quarter valued at about $1,095,000. The Manufacturers Life Insurance Company grew its position 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 valued at $1,252,000 after purchasing an additional 1,121 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Lincoln National during the second quarter valued at about $673,000. Keynote Financial Services LLC purchased a new position in shares of Lincoln National during the first quarter valued at about $1,135,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Lincoln National during the second quarter valued at about $1,548,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is owned by company insiders.

Lincoln National Stock Up 0.3 %

LNC opened at $35.45 on Friday. Lincoln National Co. has a twelve month low of $23.40 and a twelve month high of $36.98. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $33.25 and a 200 day moving average price of $31.98. The company has a market cap of $6.04 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter in the prior year, the company earned $0.23 EPS. Lincoln National’s revenue was down 2.2% compared to the same quarter last year. Sell-side analysts expect that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.08%. Lincoln National’s payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LNC. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler dropped their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley decreased their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, TD Cowen raised their price objective on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.25.

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.