Corton Capital Inc. Invests $431,000 in Lincoln National Co. (NYSE:LNC)

Corton Capital Inc. bought a new stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 13,590 shares of the financial services provider's stock, valued at approximately $431,000. Lincoln National accounts for 0.2% of Corton Capital Inc.'s holdings, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LNC. Brevan Howard Capital Management LP boosted its position in Lincoln National by 329.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 73,639 shares of the financial services provider's stock valued at $2,335,000 after buying an additional 56,481 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in Lincoln National during the 4th quarter valued at approximately $292,000. Balyasny Asset Management L.P. increased its holdings in Lincoln National by 301.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock worth $48,269,000 after purchasing an additional 1,142,759 shares during the last quarter. Bearing Point Capital LLC acquired a new position in shares of Lincoln National in the 4th quarter valued at approximately $772,000. Finally, Benjamin Edwards Inc. boosted its stake in shares of Lincoln National by 22.1% during the 4th quarter. Benjamin Edwards Inc. now owns 43,324 shares of the financial services provider's stock valued at $1,374,000 after buying an additional 7,850 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Performance

NYSE LNC traded down $0.03 during trading hours on Friday, hitting $33.34. The company had a trading volume of 1,465,708 shares, compared to its average volume of 1,628,729. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.80. The firm has a market cap of $5.69 billion, a P/E ratio of 1.81, a price-to-earnings-growth ratio of 0.30 and a beta of 1.42. Lincoln National Co. has a fifty-two week low of $27.58 and a fifty-two week high of $39.85. The business has a fifty day simple moving average of $33.39 and a 200-day simple moving average of $34.01.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period last year, the firm posted $0.41 EPS. Lincoln National's quarterly revenue was up 14.0% compared to the same quarter last year. Equities analysts predict that Lincoln National Co. will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.40%. The ex-dividend date was Thursday, April 10th. Lincoln National's dividend payout ratio is currently 9.79%.

Analyst Upgrades and Downgrades

LNC has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on shares of Lincoln National from $42.00 to $32.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. UBS Group upped their target price on shares of Lincoln National from $32.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods reduced their price target on shares of Lincoln National from $40.00 to $38.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 9th. Evercore ISI boosted their price objective on Lincoln National from $41.00 to $44.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Finally, Piper Sandler reduced their target price on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Lincoln National currently has a consensus rating of "Hold" and a consensus target price of $36.27.

About Lincoln National

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.