Lincoln National Corporation $LNC Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in Lincoln National Corporation (NYSE:LNC) by 10.1% in the third quarter, Holdings Channel.com reports. The firm owned 155,386 shares of the financial services provider’s stock after selling 17,502 shares during the period. Truist Financial Corp’s holdings in Lincoln National were worth $6,267,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Baird Financial Group Inc. acquired a new stake in Lincoln National in the 1st quarter worth about $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Lincoln National by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock valued at $2,585,000 after acquiring an additional 16,991 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Lincoln National by 316.9% during the 1st quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock worth $2,123,000 after acquiring an additional 44,936 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock valued at $22,383,000 after purchasing an additional 29,421 shares during the period. Finally, Focus Partners Wealth increased its position in Lincoln National by 39.1% during the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 5,486 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Stock Performance

Lincoln National stock opened at $42.43 on Tuesday. The firm has a market capitalization of $8.06 billion, a PE ratio of 3.81, a price-to-earnings-growth ratio of 0.44 and a beta of 1.31. Lincoln National Corporation has a one year low of $27.58 and a one year high of $46.82. The stock’s 50 day moving average price is $43.26 and its 200 day moving average price is $41.07. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.28 and a current ratio of 0.28.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 12th were paid a $0.45 dividend. The ex-dividend date was Monday, January 12th. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. Lincoln National’s dividend payout ratio is 16.16%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LNC shares. Barclays upped their price objective on Lincoln National from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Evercore ISI raised their price objective on Lincoln National from $45.00 to $46.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Mizuho initiated coverage on Lincoln National in a report on Tuesday, December 16th. They set an “outperform” rating and a $52.00 target price for the company. TD Cowen restated a “hold” rating on shares of Lincoln National in a report on Wednesday, January 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Lincoln National in a research report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.25.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 3,519 shares of Lincoln National stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total transaction of $155,363.85. Following the sale, the executive vice president owned 118,985 shares of the company’s stock, valued at $5,253,187.75. The trade was a 2.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 price of $42.17 per share, for a total transaction of $84,340.00. Following the acquisition, the director directly owned 12,000 shares in the company, valued at $506,040. This represents a 20.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.54% of the stock is currently owned by company insiders.

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.