9,390 Shares in Lincoln National Corporation $LNC Purchased by Westhampton Capital LLC

Key Points

• Westhampton Capital LLC acquired 9,390 shares of Lincoln National Corporation, valued at approximately $325,000, during the second quarter.
• Lincoln National recently reported a quarterly EPS of $2.36, exceeding analysts' expectations, though it fell short in revenue with $4.04 billion against an expectation of $4.65 billion.
• The company announced a quarterly dividend of $0.45, with a 4.5% yield based on an annualized basis, to be paid on November 3rd.

Westhampton Capital LLC acquired a new position in Lincoln National Corporation (NYSE:LNC - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,390 shares of the financial services provider's stock, valued at approximately $325,000.

A number of other large investors have also modified their holdings of LNC. AQR Capital Management LLC increased its holdings in shares of Lincoln National by 84.5% in the 1st quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider's stock worth $72,039,000 after acquiring an additional 935,225 shares during the period. Millennium Management LLC increased its holdings in shares of Lincoln National by 206.6% in the 1st quarter. Millennium Management LLC now owns 1,176,613 shares of the financial services provider's stock worth $42,252,000 after acquiring an additional 792,907 shares during the period. SG Americas Securities LLC increased its holdings in shares of Lincoln National by 1,818.4% in the 1st quarter. SG Americas Securities LLC now owns 661,972 shares of the financial services provider's stock worth $23,771,000 after acquiring an additional 627,466 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Lincoln National by 141.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 673,095 shares of the financial services provider's stock worth $24,171,000 after acquiring an additional 394,028 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Lincoln National in the 1st quarter worth about $12,645,000. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Stock Performance

LNC stock opened at $40.43 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market cap of $7.66 billion, a P/E ratio of 7.06, a P/E/G ratio of 0.55 and a beta of 1.48. The firm has a 50 day simple moving average of $39.92 and a 200 day simple moving average of $35.68. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $43.66.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $1.91 by $0.45. The business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period last year, the company posted $1.87 earnings per share. Research analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.45 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.5%. Lincoln National's payout ratio is 31.41%.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the sale, the executive vice president directly owned 123,815 shares in the company, valued at approximately $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on LNC. Morgan Stanley raised shares of Lincoln National from an "equal weight" rating to an "overweight" rating in a research note on Friday, September 19th. Wells Fargo & Company reissued a "positive" rating on shares of Lincoln National in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on shares of Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Finally, Wall Street Zen raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $39.45.

Lincoln National 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.

Want to see what other hedge funds are holding LNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lincoln National Corporation (NYSE:LNC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.