Icon Advisers Inc. Co. Has $4.86 Million Holdings in Lincoln National Corporation $LNC

Icon Advisers Inc. Co. trimmed its stake in shares of Lincoln National Corporation (NYSE:LNC) by 27.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 120,525 shares of the financial services provider’s stock after selling 46,700 shares during the period. Lincoln National makes up about 1.1% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 25th biggest position. Icon Advisers Inc. Co.’s holdings in Lincoln National were worth $4,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new position in Lincoln National during the 2nd quarter worth $28,000. JPL Wealth Management LLC bought a new stake in shares of Lincoln National during the third quarter worth $29,000. Salomon & Ludwin LLC acquired a new position in shares of Lincoln National during the third quarter valued at $32,000. Mather Group LLC. bought a new position in Lincoln National in the third quarter valued at about $39,000. Finally, Larson Financial Group LLC increased its position in Lincoln National by 61.8% in the third quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 391 shares during the period. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Down 3.1%

NYSE:LNC opened at $34.03 on Friday. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $46.82. The stock has a 50-day moving average price of $40.49 and a two-hundred day moving average price of $41.17. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 1.57 and a beta of 1.30. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.59.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.35. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the firm posted $1.91 earnings per share. Lincoln National’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.3%. The ex-dividend date is Friday, April 10th. Lincoln National’s dividend payout ratio (DPR) is 33.90%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LNC. National Bank Financial set a $45.00 target price on shares of Lincoln National in a research report on Thursday, January 8th. Zacks Research cut shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Morgan Stanley cut their price objective on shares of Lincoln National from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler raised their price objective on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln National in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.25.

Insider Activity at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 10,000 shares of Lincoln National stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $34.46, for a total value of $344,600.00. Following the transaction, the executive vice president owned 206,159 shares of the company’s stock, valued at approximately $7,104,239.14. The trade was a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder National Life Insuranc Lincoln acquired 2,300,098 shares of the stock in a transaction dated Friday, December 19th. The shares were bought at an average cost of $10.87 per share, with a total value of $25,002,065.26. Following the transaction, the insider directly owned 7,529,837 shares of the company’s stock, valued at $81,849,328.19. This represents a 43.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 16,569 shares of company stock worth $627,484. Corporate insiders own 0.51% of the company’s stock.

About Lincoln National

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.