Lincoln National Corporation $LNC Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its stake in Lincoln National Corporation (NYSE:LNC) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,325 shares of the financial services provider’s stock after selling 20,176 shares during the period. Legal & General Group Plc owned approximately 0.25% of Lincoln National worth $21,211,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC acquired a new stake in shares of Lincoln National in the third quarter valued at about $29,000. V Square Quantitative Management LLC acquired a new position in Lincoln National during the 4th quarter worth approximately $31,000. Laurel Wealth Advisors LLC purchased a new position in Lincoln National in the 4th quarter worth approximately $38,000. Larson Financial Group LLC grew its position in Lincoln National by 61.8% in the third quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 391 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Lincoln National during the third quarter valued at approximately $48,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Stock Up 0.0%

NYSE:LNC opened at $35.30 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of 4.09, a price-to-earnings-growth ratio of 2.26 and a beta of 1.17. Lincoln National Corporation has a one year low of $31.69 and a one year high of $46.82. The stock has a 50-day simple moving average of $35.58 and a 200 day simple moving average of $38.93.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.Lincoln National’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. Sell-side analysts predict that Lincoln National Corporation will post 7.72 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, July 10th. Lincoln National’s dividend payout ratio (DPR) is presently 20.88%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LNC. Bank of America lowered their price target on shares of Lincoln National from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. National Bank Financial set a $40.00 price objective on shares of Lincoln National in a research report on Thursday, May 21st. Barclays cut their price target on Lincoln National from $44.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley reduced their price target on Lincoln National from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Finally, TD Cowen cut their target price on Lincoln National from $43.00 to $38.00 and set a “hold” rating on the stock in a research report on Monday, March 9th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Lincoln National currently has an average rating of “Hold” and a consensus target price of $43.00.

Insider Activity at Lincoln National

In related news, EVP Sean Woodroffe sold 8,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $32.74, for a total transaction of $261,920.00. Following the completion of the sale, the executive vice president owned 198,159 shares of the company’s stock, valued at $6,487,725.66. This represents a 3.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.03% of the company’s stock.

Lincoln National 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.