Algebris UK Ltd. Sells 509,116 Shares of Lincoln National Corporation $LNC

Key Points

• Algebris UK Ltd. reduced its Lincoln National stake by 46.6% in Q4, selling 509,116 shares and leaving it with 583,777 shares worth about $26 million.
• Lincoln National reported quarterly EPS of $1.66, beating estimates, while revenue of $4.87 billion came in slightly below expectations; revenue still rose 13.1% year over year.
• Analysts currently have a Hold consensus on the stock, with an average price target of $44.00, even as some firms raised or cut their targets and ratings.

Algebris UK Ltd. cut its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 46.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 583,777 shares of the financial services provider's stock after selling 509,116 shares during the period. Lincoln National comprises approximately 1.2% of Algebris UK Ltd.'s portfolio, making the stock its 21st biggest holding. Algebris UK Ltd. owned about 0.31% of Lincoln National worth $26,008,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in shares of Lincoln National in the third quarter valued at approximately $29,000. V Square Quantitative Management LLC bought a new position in shares of Lincoln National in the fourth quarter valued at approximately $31,000. Laurel Wealth Advisors LLC bought a new position in shares of Lincoln National in the fourth quarter valued at approximately $38,000. Larson Financial Group LLC grew its holdings in shares of Lincoln National by 61.8% in the third quarter. Larson Financial Group LLC now owns 1,024 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 391 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Lincoln National in the third quarter valued at approximately $48,000. 72.81% of the stock is owned by institutional investors.

Lincoln National Price Performance

Shares of NYSE LNC opened at $35.43 on Thursday. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 4.11, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20. The stock has a fifty day simple moving average of $35.27 and a two-hundred day simple moving average of $39.20. Lincoln National Corporation has a 1-year low of $31.61 and a 1-year high of $46.82. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65.

Lincoln National (NYSE:LNC - Get Free Report) last posted its earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.60 earnings per share. Analysts anticipate that Lincoln National Corporation will post 7.73 earnings per share for the current year.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 8,000 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $32.74, for a total transaction of $261,920.00. Following the sale, the executive vice president owned 198,159 shares in the company, valued at $6,487,725.66. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder National Life Insuranc Lincoln bought 2,254,486 shares of the company's stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $11.09 per share, for a total transaction of $25,002,249.74. Following the transaction, the insider owned 9,784,322 shares of the company's stock, valued at approximately $108,508,130.98. This represents a 29.94% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.03% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company upped their target price on Lincoln National from $43.00 to $44.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Mizuho reduced their price objective on Lincoln National from $54.00 to $48.00 and set an "outperform" rating for the company in a report on Monday, April 13th. TD Cowen reduced their price objective on Lincoln National from $43.00 to $38.00 and set a "hold" rating for the company in a report on Monday, March 9th. National Bank Financial set a $48.00 price objective on Lincoln National in a report on Monday, April 13th. Finally, Weiss Ratings lowered Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $44.00.

Lincoln National Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.