Lincoln National Co. (NYSE:LNC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its holdings in shares of Lincoln National Co. (NYSE:LNC) by 25.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,400 shares of the financial services provider’s stock after selling 11,200 shares during the period. Toronto Dominion Bank’s holdings in Lincoln National were worth $1,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OLD National Bancorp IN boosted its holdings in Lincoln National by 4.0% during the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock worth $265,000 after buying an additional 325 shares in the last quarter. Brookstone Capital Management grew its stake in shares of Lincoln National by 6.2% during the 3rd quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock valued at $215,000 after buying an additional 397 shares during the period. Hexagon Capital Partners LLC increased its position in Lincoln National by 13.3% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock worth $110,000 after purchasing an additional 411 shares in the last quarter. Fifth Third Bancorp increased its holdings in Lincoln National by 1.6% in the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock valued at $819,000 after purchasing an additional 420 shares in the last quarter. Finally, Whittier Trust Co. raised 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 valued at $26,000 after purchasing an additional 431 shares during the period. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on LNC. Morgan Stanley reduced their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Piper Sandler dropped their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Barclays boosted their target price on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. TD Cowen upped their target price on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.25.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by insiders.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $33.04 on Tuesday. The business has a 50 day moving average price of $33.97 and a 200 day moving average price of $32.26. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 0.29 and a beta of 1.77. 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 Co. has a twelve month low of $25.09 and a twelve month high of $36.98.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, beating the consensus estimate of $1.64 by $0.42. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. Research analysts predict that Lincoln National Co. will post 6.62 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.45 dividend. 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 5.45%. Lincoln National’s payout ratio is presently 128.57%.

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.