Lincoln National Co. (NYSE:LNC) Shares Sold by Seven Eight Capital LP

Seven Eight Capital LP reduced its stake in Lincoln National Co. (NYSE:LNC) by 29.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,607 shares of the financial services provider’s stock after selling 25,978 shares during the quarter. Seven Eight Capital LP’s holdings in Lincoln National were worth $1,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Lincoln National by 0.8% in the first quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock valued at $697,825,000 after acquiring an additional 166,167 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Lincoln National in the second quarter valued at $142,148,000. Principal Financial Group Inc. lifted its position in shares of Lincoln National by 59.2% in the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after acquiring an additional 1,147,896 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lincoln National by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock valued at $87,970,000 after acquiring an additional 348,601 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Lincoln National by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 2,249,725 shares of the financial services provider’s stock valued at $69,966,000 after acquiring an additional 31,235 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Stock Performance

Lincoln National stock opened at $30.31 on Thursday. The stock’s 50-day moving average is $31.16 and its 200-day moving average is $30.37. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 4.15, a price-to-earnings-growth ratio of 0.29 and a beta of 1.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. Lincoln National Co. has a 12 month low of $20.85 and a 12 month high of $36.46.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period last year, the business posted $2.02 EPS. Equities analysts anticipate that Lincoln National Co. will post 5.74 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.94%. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Barclays assumed coverage on Lincoln National in a research report on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Piper Sandler increased their target price on Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Jefferies Financial Group increased their target price on Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Morgan Stanley reduced their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. increased their target price on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Lincoln National currently has an average rating of “Hold” and an average price target of $32.64.

About Lincoln National

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.