Lincoln National Co. (NYSE:LNC – Get Rating) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 5,120,000 shares, a growth of 42.6% from the November 30th total of 3,590,000 shares. Based on an average daily volume of 2,680,000 shares, the short-interest ratio is presently 1.9 days. Currently, 3.4% of the shares of the company are short sold.
Lincoln National Price Performance
LNC stock traded up $0.07 during trading on Friday, reaching $30.72. 2,394,173 shares of the company were exchanged, compared to its average volume of 3,319,338. The company has a 50-day moving average of $37.08 and a two-hundred day moving average of $44.20. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -2.55 and a beta of 1.74. Lincoln National has a twelve month low of $28.61 and a twelve month high of $76.40. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.19 and a quick ratio of 0.19.
Lincoln National (NYSE:LNC – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported ($10.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($12.16). The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.37 billion. Lincoln National had a negative return on equity of 6.59% and a negative net margin of 10.52%. As a group, equities analysts predict that Lincoln National will post -4.18 earnings per share for the current fiscal year.
Lincoln National Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.86%. The ex-dividend date is Monday, January 9th. Lincoln National’s dividend payout ratio (DPR) is currently -14.94%.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Piper Sandler cut their price objective on shares of Lincoln National from $38.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, December 20th. Royal Bank of Canada cut their price target on shares of Lincoln National from $54.00 to $40.00 in a report on Friday, November 4th. Keefe, Bruyette & Woods cut their price target on shares of Lincoln National from $41.00 to $33.00 in a report on Sunday, December 18th. Citigroup cut their price target on shares of Lincoln National from $53.00 to $36.00 in a report on Wednesday, November 16th. Finally, Morgan Stanley downgraded shares of Lincoln National from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $68.00 to $54.00 in a report on Thursday, November 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.15.
Insider Buying and Selling at Lincoln National
In other Lincoln National news, EVP John Christopher Kennedy sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $30.79, for a total value of $46,185.00. Following the completion of the sale, the executive vice president now owns 20,336 shares of the company’s stock, valued at approximately $626,145.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.75% of the company’s stock.
Hedge Funds Weigh In On Lincoln National
Several institutional investors and hedge funds have recently added to or reduced their stakes in LNC. State Street Corp increased its position in Lincoln National by 20.8% in the 3rd quarter. State Street Corp now owns 9,443,719 shares of the financial services provider’s stock valued at $414,674,000 after acquiring an additional 1,628,081 shares during the period. AQR Capital Management LLC increased its position in Lincoln National by 243.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,568,919 shares of the financial services provider’s stock valued at $71,386,000 after acquiring an additional 1,112,215 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Lincoln National by 422.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 963,522 shares of the financial services provider’s stock valued at $45,064,000 after purchasing an additional 779,247 shares during the last quarter. Prana Capital Management LP boosted its stake in shares of Lincoln National by 437.3% in the 3rd quarter. Prana Capital Management LP now owns 880,799 shares of the financial services provider’s stock valued at $38,676,000 after purchasing an additional 716,860 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Lincoln National by 192.2% in the 2nd quarter. Millennium Management LLC now owns 893,036 shares of the financial services provider’s stock valued at $41,767,000 after purchasing an additional 587,419 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors and hedge funds.
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: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.