New Vernon Investment Management LLC Takes $3.51 Million Position in Lincoln National Co. (NYSE:LNC)

New Vernon Investment Management LLC purchased a new stake in Lincoln National Co. (NYSE:LNC) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 111,338 shares of the financial services provider’s stock, valued at approximately $3,508,000. Lincoln National accounts for about 3.8% of New Vernon Investment Management LLC’s investment portfolio, making the stock its 8th largest position.

A number of other large investors have also recently bought and sold shares of the business. Whittier Trust Co. boosted its stake in shares of Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after buying an additional 431 shares during the period. Blue Trust Inc. grew its stake in shares of Lincoln National by 535.5% in the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 905 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 530 shares during the period. Eastern Bank purchased a new stake in shares of Lincoln National during the third quarter worth approximately $40,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Lincoln National during the third quarter worth $48,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Trading Down 0.9 %

NYSE:LNC traded down $0.30 on Tuesday, hitting $34.93. 119,373 shares of the stock were exchanged, compared to its average volume of 1,611,739. Lincoln National Co. has a fifty-two week low of $23.68 and a fifty-two week high of $36.98. The stock has a fifty day moving average of $33.39 and a 200-day moving average of $32.08. 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 stock has a market cap of $5.95 billion, a PE ratio of 25.16, a PEG ratio of 0.32 and a beta of 1.77.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data 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 firm had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, equities analysts expect that Lincoln National Co. will post 6.53 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently declared 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. This represents a $1.80 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio is currently 128.57%.

Analyst Ratings Changes

Several research firms have recently commented on LNC. TD Cowen raised their target price on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Barclays lifted their price objective on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their target price 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. Piper Sandler decreased their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Morgan Stanley cut their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.25.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National 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 transaction, the executive vice president now owns 99,644 shares in the company, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.