Old North State Trust LLC Sells 4,825 Shares of Lincoln National Co. (NYSE:LNC)

Old North State Trust LLC reduced its stake in shares of Lincoln National Co. (NYSE:LNC) by 55.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,923 shares of the financial services provider’s stock after selling 4,825 shares during the quarter. Old North State Trust LLC’s holdings in Lincoln National were worth $88,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sentry Investment Management LLC bought a new position in Lincoln National during the 1st quarter valued at about $25,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Lincoln National by 368.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,102 shares of the financial services provider’s stock worth $25,000 after buying an additional 867 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Lincoln National by 51.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 895 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 304 shares during the last quarter. Barrett & Company Inc. acquired a new position in shares of Lincoln National in the 1st quarter worth approximately $27,000. Finally, IAG Wealth Partners LLC bought a new stake in Lincoln National during the 1st quarter worth approximately $28,000. 71.89% of the stock is owned by institutional investors.

Lincoln National Price Performance

Shares of LNC opened at $26.03 on Friday. The stock has a market cap of $4.42 billion, a P/E ratio of -1.48 and a beta of 1.83. Lincoln National Co. has a 1 year low of $18.50 and a 1 year high of $54.59. The stock’s 50-day moving average price is $26.41 and its two-hundred day moving average price is $24.04. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.23.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a negative net margin of 18.67% and a negative return on equity of 22.54%. During the same quarter in the previous year, the company earned $2.23 earnings per share. On average, equities analysts predict that Lincoln National Co. will post 7.15 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.92%. The ex-dividend date is Monday, October 9th. Lincoln National’s payout ratio is presently -10.23%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LNC. Jefferies Financial Group boosted their price objective on Lincoln National from $18.00 to $19.00 and gave the stock an “underperform” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on shares of Lincoln National from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 15th. StockNews.com assumed coverage on shares of Lincoln National in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays raised their price target on shares of Lincoln National from $17.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, August 7th. Finally, Morgan Stanley boosted their price objective on shares of Lincoln National from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned 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 $30.08.

Lincoln National Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.