Icon Advisers Inc. Co. Sells 46,700 Shares of Lincoln National Corporation $LNC

Icon Advisers Inc. Co. decreased its position in Lincoln National Corporation (NYSE:LNC) by 27.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,525 shares of the financial services provider’s stock after selling 46,700 shares during the quarter. Lincoln National accounts for approximately 1.1% of Icon Advisers Inc. Co.’s holdings, making the stock its 24th largest holding. Icon Advisers Inc. Co.’s holdings in Lincoln National were worth $4,861,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. bought a new position in shares of Lincoln National during the first quarter worth about $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Lincoln National by 30.9% in 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 in the last quarter. Empowered Funds LLC boosted its position in 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 last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Lincoln National by 5.0% during the 1st 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 worth $22,383,000 after acquiring an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth grew its stake in shares of Lincoln National by 39.1% during the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 5,486 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Trading Down 3.1%

Shares of Lincoln National stock opened at $34.03 on Friday. The stock has a market cap of $6.47 billion, a P/E ratio of 6.41, a P/E/G ratio of 1.57 and a beta of 1.30. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.59. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $46.82. The business’s 50 day moving average is $40.49 and its 200-day moving average is $41.17.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.35. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $1.91 earnings per share. Equities research analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently issued reports on LNC. Wells Fargo & Company upgraded shares of Lincoln National from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $48.00 in a report on Wednesday, February 25th. Jefferies Financial Group increased their target price on shares of Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Morgan Stanley decreased their target price on shares of Lincoln National from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday. National Bank Financial set a $45.00 price target on shares of Lincoln National in a research note on Thursday, January 8th. Finally, Zacks Research cut shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.25.

Insider Activity

In other news, EVP John Christopher Kennedy sold 3,519 shares of Lincoln National stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total value of $155,363.85. Following the completion of the transaction, the executive vice president owned 118,985 shares of the company’s stock, valued at $5,253,187.75. This trade represents a 2.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Waltman Reid sold 3,050 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total transaction of $127,520.50. Following the transaction, the executive vice president owned 118,567 shares in the company, valued at $4,957,286.27. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 16,569 shares of company stock worth $627,484. Insiders own 0.51% of the company’s stock.

Lincoln National Company 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.