Lincoln National Co. (NYSE:LNC) Shares Bought by Seven Eight Capital LP

Seven Eight Capital LP grew its holdings in shares of Lincoln National Co. (NYSE:LNCFree Report) by 52.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,325 shares of the financial services provider’s stock after purchasing an additional 9,358 shares during the period. Seven Eight Capital LP’s holdings in Lincoln National were worth $737,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LNC. Hsbc Holdings PLC increased its stake in Lincoln National by 2,107.9% during the 3rd quarter. Hsbc Holdings PLC now owns 4,279,462 shares of the financial services provider’s stock valued at $105,703,000 after buying an additional 4,085,637 shares during the period. Norges Bank bought a new position in shares of Lincoln National in the fourth quarter valued at approximately $54,026,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Lincoln National by 53.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 3,157,195 shares of the financial services provider’s stock valued at $77,951,000 after acquiring an additional 1,098,532 shares during the period. Assenagon Asset Management S.A. bought a new stake in Lincoln National during the fourth quarter worth approximately $19,350,000. Finally, International Assets Investment Management LLC lifted its position in Lincoln National by 2,549.8% in the fourth quarter. International Assets Investment Management LLC now owns 719,801 shares of the financial services provider’s stock worth $19,413,000 after purchasing an additional 692,637 shares during the period. 72.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LNC. Wells Fargo & Company lowered their price target on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Evercore ISI lifted their target price on Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods upped their price target on shares of Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Piper Sandler lowered their price objective on shares of Lincoln National from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lincoln National from $26.00 to $29.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Lincoln National has an average rating of “Hold” and an average price target of $29.90.

Get Our Latest Stock Report on LNC

Insider Buying and Selling

In other Lincoln National news, EVP Sean Woodroffe sold 55,127 shares of Lincoln National stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the transaction, the executive vice president now owns 198,255 shares of the company’s stock, valued at approximately $6,457,165.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.

Lincoln National Stock Performance

Lincoln National stock opened at $32.26 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.26 and a quick ratio of 0.26. The company has a market cap of $5.48 billion, a P/E ratio of 4.41, a price-to-earnings-growth ratio of 0.25 and a beta of 1.85. Lincoln National Co. has a fifty-two week low of $20.85 and a fifty-two week high of $33.33. The firm’s 50 day simple moving average is $29.96 and its 200-day simple moving average is $28.09.

Lincoln National (NYSE:LNCGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.27. The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.64 billion. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. As a group, equities research analysts predict that Lincoln National Co. will post 6 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.58%. The ex-dividend date is Wednesday, July 10th. Lincoln National’s payout ratio is 24.62%.

Lincoln National Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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