Arrowstreet Capital Limited Partnership Decreases Stake in Lincoln National Corporation $LNC

Arrowstreet Capital Limited Partnership lessened its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 18.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,150,321 shares of the financial services provider’s stock after selling 256,507 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Lincoln National were worth $39,801,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. purchased a new stake in Lincoln National during the second quarter worth approximately $28,000. Ameritas Advisory Services LLC purchased a new position in shares of Lincoln National in the 2nd quarter valued at $29,000. Brooklyn Investment Group lifted its holdings in shares of Lincoln National by 82.9% during the 1st quarter. Brooklyn Investment Group now owns 1,156 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 524 shares in the last quarter. Friedenthal Financial purchased a new stake in Lincoln National during the 2nd quarter worth $42,000. Finally, Hantz Financial Services Inc. boosted its position in Lincoln National by 3,927.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,490 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 1,453 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Insider Activity at Lincoln National

In other news, Director Owen Ryan purchased 2,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average cost of $42.17 per share, for a total transaction of $84,340.00. Following the acquisition, the director owned 12,000 shares of the company’s stock, valued at $506,040. The trade was a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

LNC has been the topic of several research reports. Keefe, Bruyette & Woods raised their price objective on Lincoln National from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Piper Sandler reiterated a “neutral” rating and issued a $42.00 target price on shares of Lincoln National in a research note on Tuesday, October 7th. Zacks Research raised Lincoln National from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 5th. Wells Fargo & Company upped their price target on Lincoln National from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln National in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $43.40.

Lincoln National Trading Up 0.4%

NYSE LNC opened at $42.70 on Friday. The company has a market capitalization of $8.11 billion, a price-to-earnings ratio of 3.83, a price-to-earnings-growth ratio of 0.42 and a beta of 1.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.28 and a quick ratio of 0.28. Lincoln National Corporation has a 12 month low of $27.58 and a 12 month high of $43.66. The company’s fifty day moving average price is $40.39 and its two-hundred day moving average price is $38.10.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 EPS for the quarter, topping the consensus estimate of $1.84 by $0.20. The business had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Lincoln National had a net margin of 11.49% and a return on equity of 18.77%. During the same quarter last year, the company posted $2.06 earnings per share. As a group, 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 announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, January 12th. Lincoln National’s dividend payout ratio (DPR) is currently 16.16%.

Lincoln National Company Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.