Macquarie Group Ltd. Cuts Stock Position in Lincoln National Co. (NYSE:LNC)

Macquarie Group Ltd. reduced its position in Lincoln National Co. (NYSE:LNC – Get Rating) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 40,231 shares of the financial services provider’s stock after selling 779 shares during the quarter. Macquarie Group Ltd.’s holdings in Lincoln National were worth $1,766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LNC. Achmea Investment Management B.V. purchased a new position in shares of Lincoln National in the 1st quarter worth about $30,000. Parkside Financial Bank & Trust boosted its holdings in Lincoln National by 25.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,017 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 206 shares during the period. Dupont Capital Management Corp boosted its holdings in Lincoln National by 39.8% during the 3rd quarter. Dupont Capital Management Corp now owns 1,166 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 332 shares during the period. Covestor Ltd boosted its holdings in Lincoln National by 704.7% during the 1st quarter. Covestor Ltd now owns 1,376 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 1,205 shares during the period. Finally, Cowa LLC purchased a new stake in Lincoln National during the 3rd quarter valued at about $91,000. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Stock Down 6.1 %

LNC stock opened at $25.66 on Friday. Lincoln National Co. has a twelve month low of $25.51 and a twelve month high of $69.91. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.91. The firm has a market cap of $4.34 billion, a PE ratio of -1.94 and a beta of 1.81. The business has a 50 day moving average of $32.29 and a 200 day moving average of $38.58.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date is Thursday, April 6th. Lincoln National’s dividend payout ratio (DPR) is presently -13.60%.

Insider Activity at Lincoln National

In related news, EVP John Christopher Kennedy sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $30.79, for a total transaction of $46,185.00. Following the completion of the transaction, the executive vice president now owns 20,336 shares of the company’s stock, valued at approximately $626,145.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.75% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LNC. Evercore ISI dropped their target price on Lincoln National to $33.00 in a report on Monday, December 12th. Wells Fargo & Company increased their target price on Lincoln National from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, February 13th. Barclays lowered Lincoln National from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $35.00 to $29.00 in a research report on Monday, January 9th. Citigroup lowered their price target on Lincoln National from $53.00 to $36.00 in a research report on Wednesday, November 16th. Finally, Jefferies Financial Group lowered Lincoln National from a “hold” rating to an “underperform” rating and lowered their price target for the company from $40.00 to $25.00 in a research report on Friday, December 16th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lincoln National has a consensus rating of “Hold” and a consensus price target of $36.21.

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.