DAVENPORT & Co LLC Has $788,000 Stock Holdings in Lincoln National Corporation $LNC

DAVENPORT & Co LLC decreased its position in Lincoln National Corporation (NYSE:LNC) by 43.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,536 shares of the financial services provider’s stock after selling 14,740 shares during the quarter. DAVENPORT & Co LLC’s holdings in Lincoln National were worth $788,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Martel Wealth Advisors Inc acquired a new stake in shares of Lincoln National in the third quarter valued at approximately $206,000. Exchange Traded Concepts LLC grew its position in Lincoln National by 47.1% in the third quarter. Exchange Traded Concepts LLC now owns 110,741 shares of the financial services provider’s stock valued at $4,466,000 after purchasing an additional 35,437 shares in the last quarter. Focus Financial Network Inc. grew its position in Lincoln National by 4.0% in the third quarter. Focus Financial Network Inc. now owns 7,821 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 300 shares in the last quarter. 1620 Investment Advisors Inc. increased its stake in Lincoln National by 3.0% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 20,226 shares of the financial services provider’s stock valued at $816,000 after buying an additional 581 shares during the last quarter. Finally, Oak Thistle LLC lifted its position in Lincoln National by 181.9% during the 3rd quarter. Oak Thistle LLC now owns 28,165 shares of the financial services provider’s stock worth $1,136,000 after buying an additional 18,174 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Insider Activity

In related news, Director Owen Ryan acquired 2,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $42.17 per share, for a total transaction of $84,340.00. Following the completion of the transaction, the director directly owned 12,000 shares of the company’s stock, valued at approximately $506,040. The trade was a 20.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Christopher Kennedy sold 3,519 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the sale, the executive vice president owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. This represents a 2.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is owned by corporate insiders.

Lincoln National Stock Down 0.6%

LNC stock opened at $45.45 on Tuesday. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $46.71. The business’s 50 day simple moving average is $42.19 and its 200 day simple moving average is $39.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $8.63 billion, a PE ratio of 4.08, a PEG ratio of 0.46 and a beta of 1.33.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.20. Lincoln National had a net margin of 11.49% and a return on equity of 18.77%. The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the business posted $2.06 earnings per share. As a group, research analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be paid a $0.45 dividend. The ex-dividend date is Monday, January 12th. This represents a $1.80 dividend on an annualized basis and a yield of 4.0%. Lincoln National’s dividend payout ratio is 16.16%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LNC. UBS Group raised their price objective on Lincoln National from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Evercore ISI increased their price target on Lincoln National from $45.00 to $46.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Barclays raised their price target on Lincoln National from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lincoln National in a research note on Monday, December 22nd. Finally, Zacks Research cut shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 4th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $47.17.

Lincoln National Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.