NEW YORK, December 29, 2025, 08:54 ET
- Voya Investment Management reported holding 95,047 Lincoln National shares as of Sept. 30, worth about $3.83 million.
- Kempner Capital Management reported holding 81,775 shares worth about $3.30 million at the same date.
- Lincoln National shares have recently traded near the top of their 12-month range, according to MarketBeat.
Voya Investment Management and Kempner Capital Management reduced their exposure to Lincoln National Corp in the third quarter, regulatory disclosures showed. The two managers reported holding about 176,822 shares worth roughly $7.1 million as of Sept. 30.
The disclosures matter because they are Form 13F filings — quarterly snapshots that large investment managers must submit to the U.S. Securities and Exchange Commission. Investors watch them for clues on institutional positioning, even though the data are backward-looking.
Lincoln’s stock has been trading near a 12-month high and the company’s next dividend dates are approaching, keeping attention on the life insurer into year-end.
Voya’s 13F filing for the quarter ended Sept. 30 showed it held 95,047 shares of Lincoln National.
MarketBeat reported that stake was down about 26% from the prior quarter and valued at about $3.83 million, citing Voya’s filing.
Kempner’s 13F filing dated Oct. 16 listed 81,775 Lincoln National shares valued at about $3.30 million as of Sept. 30.
MarketBeat said Kempner trimmed its Lincoln position by 48.5% during the quarter and that the holding accounted for about 2.7% of the firm’s reported portfolio.
Hedge funds and other institutional investors own about 72.81% of Lincoln National’s stock, MarketBeat said.
Lincoln National had a market value of about $7.98 billion in recent trading, and the stock has traded between $27.58 and $46.71 over the last 12 months, according to MarketBeat.
Analysts remain split on the name. MarketBeat reported a consensus “Hold” rating and an average price target of about $47.17. MarketBeat+1
Morgan Stanley analyst Bob Huang, in a Dec. 15 outlook note carried by TheFly, said 2026 should see “similar fundamental trends as 2025.” TipRanks/TheFly
Lincoln National, based in Radnor, Pennsylvania, sells annuities, life insurance and group protection products. It competes with other U.S. life insurers including MetLife and Prudential Financial.
The company has declared a quarterly dividend of 45 cents per share, payable on Feb. 2 to shareholders of record on Jan. 12, MarketBeat reported.
Lincoln last reported quarterly earnings per share of $2.04, beating analyst expectations, while revenue of $4.56 billion missed estimates, according to MarketBeat.
Form 13F filings reflect positions at quarter end, and managers may have changed their holdings since Sept. 30.
