Lincoln National Co. (NYSE:LNC) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its position in Lincoln National Co. (NYSE:LNC – Get Rating) by 78.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,142 shares of the financial services provider’s stock after selling 82,013 shares during the period. Intech Investment Management LLC’s holdings in Lincoln National were worth $680,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Stephens Inc. AR increased its holdings in shares of Lincoln National by 3.1% in the third quarter. Stephens Inc. AR now owns 8,202 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 244 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Lincoln National by 7.0% during the third quarter. Rockefeller Capital Management L.P. now owns 3,982 shares of the financial services provider’s stock worth $173,000 after acquiring an additional 261 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Lincoln National by 0.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 29,255 shares of the financial services provider’s stock worth $1,283,000 after acquiring an additional 263 shares during the period. Private Advisor Group LLC grew its holdings in Lincoln National by 4.2% during the first quarter. Private Advisor Group LLC now owns 6,980 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 284 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Lincoln National by 2.3% during the fourth quarter. Nordea Investment Management AB now owns 13,135 shares of the financial services provider’s stock worth $400,000 after acquiring an additional 290 shares during the period. 78.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gary C. Kelly acquired 7,838 shares of Lincoln National stock in a transaction that occurred on Thursday, May 11th. The shares were purchased at an average price of $25.52 per share, for a total transaction of $200,025.76. Following the completion of the transaction, the director now owns 15,007 shares in the company, valued at approximately $382,978.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.55% of the stock is currently owned by company insiders.

Lincoln National Stock Performance

Shares of Lincoln National stock opened at $20.95 on Monday. Lincoln National Co. has a one year low of $18.50 and a one year high of $58.68. The company has a market cap of $3.55 billion, a price-to-earnings ratio of -1.09 and a beta of 1.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.19 and a current ratio of 0.19. The business’s 50 day moving average price is $21.07 and its 200 day moving average price is $28.87.

Lincoln National (NYSE:LNC – Get Rating) last announced its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Lincoln National had a negative return on equity of 17.09% and a negative net margin of 17.97%. The firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.59 billion. During the same quarter last year, the business posted $1.66 earnings per share. The firm’s revenue was down 19.2% compared to the same quarter last year. On average, research analysts predict that Lincoln National Co. will post 7.14 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on LNC. StockNews.com began coverage on Lincoln National in a report on Thursday. They set a “sell” rating on the stock. Piper Sandler dropped their target price on Lincoln National from $23.00 to $22.00 in a report on Wednesday, May 3rd. Royal Bank of Canada dropped their price objective on Lincoln National from $31.00 to $26.00 in a report on Thursday, May 11th. Barclays dropped their price objective on Lincoln National from $20.00 to $17.00 in a report on Wednesday, May 3rd. Finally, 51job reissued a “reiterates” rating on shares of Lincoln National in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Lincoln National presently has an average rating of “Hold” and a consensus target price of $31.43.

About Lincoln National

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.