WINTON GROUP Ltd reduced its position in shares of Lincoln National Corporation (NYSE:LNC) by 17.1% during the first quarter, Holdings Channel reports. The institutional investor owned 151,660 shares of the financial services provider’s stock after selling 31,279 shares during the period. WINTON GROUP Ltd owned 0.07% of Lincoln National Corporation worth $7,125,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. purchased a new stake in Lincoln National Corporation during the fourth quarter worth $118,000. Advantage Investment Management LLC purchased a new stake in Lincoln National Corporation during the fourth quarter worth $120,000. Americafirst Capital Management LLC purchased a new stake in Lincoln National Corporation during the first quarter worth $150,000. Financial Architects Inc boosted its stake in Lincoln National Corporation by 109.2% in the first quarter. Financial Architects Inc now owns 2,900 shares of the financial services provider’s stock worth $190,000 after buying an additional 1,514 shares in the last quarter. Finally, Eqis Capital Management Inc. purchased a new stake in Lincoln National Corporation during the first quarter worth $213,000. Institutional investors and hedge funds own 80.19% of the company’s stock.
Shares of Lincoln National Corporation (NYSE:LNC) traded up 0.01% during midday trading on Friday, hitting $68.04. 1,466,720 shares of the stock were exchanged. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 11.16 and a beta of 1.97. The firm has a 50 day moving average of $66.50 and a 200-day moving average of $67.18. Lincoln National Corporation has a one year low of $35.27 and a one year high of $73.31.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.62 by $0.30. Lincoln National Corporation had a net margin of 10.43% and a return on equity of 10.70%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Equities analysts expect that Lincoln National Corporation will post $7.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.16 annualized dividend and a yield of 1.70%. Lincoln National Corporation’s dividend payout ratio is currently 19.14%.
A number of research firms have recently weighed in on LNC. Keefe, Bruyette & Woods restated a “hold” rating and issued a $75.00 price target on shares of Lincoln National Corporation in a report on Tuesday, March 21st. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a research report on Thursday, May 4th. Zacks Investment Research lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America Corporation raised shares of Lincoln National Corporation from a “neutral” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Thursday, April 6th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Lincoln National Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.75.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total transaction of $907,047.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael F. Mee sold 13,574 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $68.62, for a total transaction of $931,447.88. Following the transaction, the director now owns 6,336 shares of the company’s stock, valued at $434,776.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,693 shares of company stock valued at $3,899,915. Company insiders own 1.41% of the company’s stock.
Lincoln National Corporation Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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