Kempner Capital Management Inc. has significantly reduced its stake in Lincoln National Corporation (NYSE:LNC), cutting its ownership by 48.5% during the third quarter, as reported in the latest Form 13F filing with the Securities and Exchange Commission. After the sale of 77,131 shares, Kempner now holds 81,775 shares of the financial services company, constituting around 2.7% of its overall portfolio, valued at approximately $3.3 million.
In addition to Kempner’s actions, several other institutional investors have also adjusted their positions in Lincoln National. For instance, Jump Financial LLC increased its stake by 72.9% in the second quarter, now owning 245,776 shares valued at $8.5 million. Similarly, Raymond James Financial Inc. and American Century Companies Inc. reported increases in their holdings, showcasing a mix of ongoing interest and strategic repositioning among investors.
Analyst sentiment surrounding Lincoln National has been varied, with several recent reports reflecting a cautious outlook. Morgan Stanley reiterated an “overweight” rating, while Zacks Research downgraded the stock from “strong-buy” to “hold.” UBS Group raised its price target from $42 to $43, and National Bankshares set a $59 price objective, indicating a range of expectations among financial analysts regarding the company’s market performance. Overall, Lincoln National maintains an average rating of “Hold” with a target price of approximately $47.17, according to MarketBeat data.
Notable internal transactions have also occurred, with Director Owen Ryan acquiring 2,000 shares at an average price of $42.17, representing a confident endorsement of the stock. Conversely, EVP John Christopher Kennedy sold 3,519 shares at $44.15, reflecting a routine adjustment rather than any negative outlook from the leadership.
On the trading front, Lincoln National shares recently opened at $45.73, with the company recording a market capitalization of $8.69 billion. Following the release of its quarterly earnings, where it exceeded EPS expectations, the firm reported solid revenues of $4.56 billion, despite falling short of some analyst projections.
The company’s commitment to shareholder returns is evident as it recently announced a quarterly dividend of $0.45 per share, with the ex-dividend date set for January 12. This decision underscores Lincoln National’s strategies for sustaining investor interest and confidence.
As Lincoln National continues to navigate market challenges and adapt to investor dynamics, the firm’s diversified portfolio and focus on financial solutions position it well for future growth. This environment, marked by institutional investment fluctuations and market analysis, reflects ongoing confidence in its capabilities to deliver shareholder value while addressing the financial needs of its clients.