Lincoln National Corporation $LNC Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its position in shares of Lincoln National Corporation (NYSE:LNC) by 18.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,150,321 shares of the financial services provider’s stock after selling 256,507 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.61% of Lincoln National worth $39,801,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors Inc. boosted its holdings in Lincoln National by 4,083.7% in the 1st quarter. Atlas Capital Advisors Inc. now owns 19,705 shares of the financial services provider’s stock valued at $708,000 after purchasing an additional 19,234 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Lincoln National by 6.1% in the 1st quarter. Northern Trust Corp now owns 2,566,274 shares of the financial services provider’s stock valued at $92,155,000 after buying an additional 146,667 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Lincoln National by 3.9% in the first quarter. Raymond James Financial Inc. now owns 267,204 shares of the financial services provider’s stock valued at $9,595,000 after buying an additional 10,018 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Lincoln National by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider’s stock worth $110,753,000 after acquiring an additional 208,114 shares during the period. Finally, American Century Companies Inc. raised its position in Lincoln National by 271.2% in the first quarter. American Century Companies Inc. now owns 180,079 shares of the financial services provider’s stock worth $6,467,000 after acquiring an additional 131,566 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Up 0.4%

Shares of NYSE:LNC opened at $42.70 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.61. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 3.83, a PEG ratio of 0.42 and a beta of 1.33. The stock’s 50-day moving average price is $40.39 and its two-hundred day moving average price is $38.10. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $43.66.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.20. Lincoln National had a net margin of 11.49% and a return on equity of 18.77%. The company had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the prior year, the company posted $2.06 EPS. On average, research analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.80 dividend on an annualized basis and a yield of 4.2%. Lincoln National’s dividend payout ratio (DPR) is currently 16.16%.

Analysts Set New Price Targets

LNC has been the topic of a number of recent analyst reports. Evercore ISI upped their price target on shares of Lincoln National from $45.00 to $46.00 and gave the stock an “in-line” rating in a research note on Thursday, October 9th. Barclays boosted their price target on Lincoln National from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Zacks Research raised Lincoln National from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 5th. Piper Sandler reiterated a “neutral” rating and set a $42.00 target price on shares of Lincoln National in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods raised their price target on Lincoln National from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.40.

Insider Buying and Selling at Lincoln National

In related news, Director Owen Ryan acquired 2,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was bought at an average cost of $42.17 per share, with a total value of $84,340.00. Following the purchase, the director directly owned 12,000 shares of the company’s stock, valued at approximately $506,040. This represents a 20.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is currently owned by company insiders.

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.