Versor Investments LP Cuts Stock Position in Lincoln National Corporation $LNC

Versor Investments LP cut its stake in shares of Lincoln National Corporation (NYSE:LNC) by 49.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 36,928 shares of the financial services provider’s stock after selling 36,172 shares during the quarter. Versor Investments LP’s holdings in Lincoln National were worth $1,278,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Strs Ohio boosted its holdings in Lincoln National by 13.1% during the 2nd quarter. Strs Ohio now owns 59,879 shares of the financial services provider’s stock valued at $2,072,000 after acquiring an additional 6,957 shares during the period. Assetmark Inc. boosted its holdings in Lincoln National by 5.2% during the 2nd quarter. Assetmark Inc. now owns 5,401 shares of the financial services provider’s stock valued at $187,000 after acquiring an additional 268 shares during the period. Keybank National Association OH boosted its holdings in Lincoln National by 100.8% during the 2nd quarter. Keybank National Association OH now owns 14,344 shares of the financial services provider’s stock valued at $496,000 after acquiring an additional 7,199 shares during the period. Hantz Financial Services Inc. boosted its holdings in Lincoln National by 3,927.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,490 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,453 shares during the period. Finally, Arkadios Wealth Advisors purchased a new stake in Lincoln National during the 2nd quarter valued at about $1,357,000. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Lincoln National from $38.00 to $41.00 and gave the company an “underweight” rating in a report on Tuesday, July 8th. Cfra Research upgraded Lincoln National to a “hold” rating in a report on Wednesday, August 6th. Piper Sandler restated a “neutral” rating and set a $42.00 target price on shares of Lincoln National in a report on Tuesday, October 7th. Wolfe Research raised Lincoln National to a “strong sell” rating in a research report on Tuesday, September 16th. Finally, Wells Fargo & Company upped their price target on Lincoln National from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $43.55.

Lincoln National Trading Up 3.3%

LNC opened at $42.02 on Friday. The business has a 50 day simple moving average of $40.75 and a two-hundred day simple moving average of $36.68. The firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 7.33, a PEG ratio of 0.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. Lincoln National Corporation has a one year low of $27.58 and a one year high of $43.66.

Lincoln National (NYSE:LNC) last released its quarterly earnings results 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. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.80 billion. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.During the same quarter in the prior year, the company posted $2.06 EPS. Analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. Lincoln National’s dividend payout ratio (DPR) is presently 31.41%.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the transaction, the executive vice president owned 123,815 shares in the company, valued at $4,864,691.35. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.51% of the stock is currently owned by insiders.

Lincoln National Company Profile

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.