Lincoln National Co. (NYSE:LNC) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp lowered its stake in shares of Lincoln National Co. (NYSE:LNC) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,066 shares of the financial services provider’s stock after selling 2,104 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Lincoln National were worth $3,131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Lincoln National by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 21,688,670 shares of the financial services provider’s stock worth $584,943,000 after buying an additional 1,094,789 shares during the last quarter. Hsbc Holdings PLC lifted its position in Lincoln National by 2,107.9% during the 3rd quarter. Hsbc Holdings PLC now owns 4,279,462 shares of the financial services provider’s stock worth $105,703,000 after acquiring an additional 4,085,637 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Lincoln National by 53.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,157,195 shares of the financial services provider’s stock worth $77,951,000 after acquiring an additional 1,098,532 shares during the period. Dimensional Fund Advisors LP grew its stake in Lincoln National by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,127,550 shares of the financial services provider’s stock valued at $57,383,000 after purchasing an additional 166,256 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Lincoln National by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,068,422 shares of the financial services provider’s stock worth $55,785,000 after purchasing an additional 107,769 shares during the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Price Performance

NYSE:LNC opened at $31.88 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. Lincoln National Co. has a 52 week low of $20.85 and a 52 week high of $33.33. The stock’s 50-day moving average price is $30.10 and its 200-day moving average price is $28.49. The stock has a market capitalization of $5.42 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 0.25 and a beta of 1.85.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.10 by $0.27. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.64 billion. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. As a group, equities analysts expect that Lincoln National Co. will post 6 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend is Wednesday, July 10th. Lincoln National’s dividend payout ratio is presently 24.62%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Evercore ISI increased their price objective on shares of Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Wells Fargo & Company decreased their target price on shares of Lincoln National from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Jefferies Financial Group raised Lincoln National from a “hold” rating to a “buy” rating and increased their price target for the stock from $26.00 to $34.00 in a research report on Wednesday, May 22nd. Finally, Piper Sandler decreased their price objective on Lincoln National from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.90.

Insider Buying and Selling

In other news, EVP Sean Woodroffe sold 55,127 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total value of $1,795,486.39. Following the transaction, the executive vice president now owns 198,255 shares in the company, valued at $6,457,165.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

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.