BNP Paribas Arbitrage SNC lessened its stake in Lincoln National Co. (NYSE:LNC – Free Report) by 58.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 250,968 shares of the financial services provider’s stock after selling 348,737 shares during the quarter. BNP Paribas Arbitrage SNC owned about 0.15% of Lincoln National worth $6,465,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in LNC. Treasurer of the State of North Carolina lifted its position in Lincoln National by 0.7% during the first quarter. Treasurer of the State of North Carolina now owns 74,177 shares of the financial services provider’s stock valued at $1,667,000 after buying an additional 530 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in Lincoln National in the second quarter valued at approximately $214,000. Mcmillion Capital Management Inc. acquired a new stake in Lincoln National during the 2nd quarter valued at approximately $75,000. Quantinno Capital Management LP acquired a new stake in Lincoln National during the 2nd quarter valued at approximately $727,000. Finally, Wedbush Securities Inc. grew its stake in Lincoln National by 117.2% during the 1st quarter. Wedbush Securities Inc. now owns 15,419 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 8,320 shares in the last quarter. Institutional investors and hedge funds own 71.89% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of Lincoln National from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Wells Fargo & Company decreased their target price on Lincoln National from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 17th. Jefferies Financial Group lifted their price objective on shares of Lincoln National from $18.00 to $19.00 and gave the stock an “underperform” rating in a report on Thursday, September 14th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, Raymond James assumed coverage on shares of Lincoln National in a report on Wednesday, July 26th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Lincoln National presently has a consensus rating of “Hold” and a consensus price target of $26.80.
Lincoln National Stock Down 0.5 %
Lincoln National stock opened at $23.66 on Tuesday. The company’s 50-day moving average price is $23.54 and its two-hundred day moving average price is $24.28. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 9.98 and a beta of 1.83. Lincoln National Co. has a 52 week low of $18.50 and a 52 week high of $39.40. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 2.67.
Lincoln National Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.80 annualized dividend and a yield of 7.61%. Lincoln National’s payout ratio is 75.95%.
Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.
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