Cambria Investment Management L.P. Sells 313,242 Shares of Lincoln National Corporation $LNC

Cambria Investment Management L.P. trimmed its position in shares of Lincoln National Corporation (NYSE:LNC) by 95.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,805 shares of the financial services provider’s stock after selling 313,242 shares during the period. Cambria Investment Management L.P.’s holdings in Lincoln National were worth $597,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in LNC. Advisors Asset Management Inc. purchased a new position in shares of Lincoln National in the second quarter worth $28,000. JPL Wealth Management LLC purchased a new position in shares of Lincoln National in the 3rd quarter valued at approximately $29,000. Salomon & Ludwin LLC bought a new stake in shares of Lincoln National during the 3rd quarter valued at $32,000. Mather Group LLC. purchased a new stake in Lincoln National in the third quarter worth about $39,000. Finally, Larson Financial Group LLC grew its stake in shares of Lincoln National by 61.8% in the third quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Insiders Place Their Bets

In other Lincoln National news, EVP Sean Woodroffe sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $32.74, for a total value of $261,920.00. Following the sale, the executive vice president owned 198,159 shares in the company, valued at approximately $6,487,725.66. This represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP James Waltman Reid sold 3,050 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total transaction of $127,520.50. Following the sale, the executive vice president directly owned 118,567 shares in the company, valued at approximately $4,957,286.27. The trade was a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 21,050 shares of company stock valued at $734,041. 0.51% of the stock is owned by company insiders.

Analysts Set New Price Targets

LNC has been the subject of a number of research analyst reports. Mizuho began coverage on Lincoln National in a report on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 target price for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln National in a report on Monday, December 29th. Barclays decreased their price objective on Lincoln National from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 11th. Piper Sandler raised their price objective on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Finally, National Bank Financial set a $45.00 price target on Lincoln National in a report on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.46.

Lincoln National Stock Performance

Lincoln National stock opened at $33.82 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.27 and a current ratio of 0.27. The company has a 50 day moving average price of $38.20 and a 200-day moving average price of $40.58. The company has a market capitalization of $6.43 billion, a PE ratio of 6.37, a P/E/G ratio of 1.50 and a beta of 1.30. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $46.82.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.35. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.91 EPS. As a group, equities analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Friday, April 10th. Lincoln National’s payout ratio is presently 33.90%.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.