Barclays PLC Sells 227,839 Shares of Lincoln National Corporation $LNC

Key Points

• Barclays PLC sold 227,839 shares of Lincoln National (a 16.6% reduction), leaving it with 1,148,527 shares worth about $46.32 million and contributing to total institutional ownership of 72.81%.
• Lincoln beat estimates in its most recent quarter with EPS of $2.21 vs. $1.86 expected and revenue of $4.89 billion vs. $4.85 billion, while the company carries a market cap of $6.48 billion and a P/E of 6.42.
• The company announced a quarterly dividend of $0.45 ($1.80 annualized)

Barclays PLC cut its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 16.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,148,527 shares of the financial services provider's stock after selling 227,839 shares during the quarter. Barclays PLC owned approximately 0.60% of Lincoln National worth $46,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LNC. Advisors Asset Management Inc. bought a new stake in Lincoln National during the 2nd quarter worth $28,000. Salomon & Ludwin LLC acquired a new position in shares of Lincoln National in the third quarter worth approximately $32,000. Mather Group LLC. bought a new stake in Lincoln National in the third quarter valued at approximately $39,000. CoreCap Advisors LLC boosted its holdings in Lincoln National by 372.1% in the third quarter. CoreCap Advisors LLC now owns 1,100 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 867 shares during the last quarter. Finally, HM Payson & Co. increased its position in Lincoln National by 37.2% during the 3rd quarter. HM Payson & Co. now owns 1,291 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 350 shares during the period. Institutional investors own 72.81% of the company's stock.

Insider Transactions at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 3,519 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $44.15, for a total value of $155,363.85. Following the transaction, the executive vice president owned 118,985 shares in the company, valued at approximately $5,253,187.75. This represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sean Woodroffe sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $32.74, for a total value of $261,920.00. Following the completion of the sale, the executive vice president directly owned 198,159 shares of the company's stock, valued at $6,487,725.66. This trade represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 24,569 shares of company stock valued at $889,404. 0.54% of the stock is currently owned by corporate insiders.

Lincoln National Stock Performance

NYSE:LNC opened at $34.09 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.59. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $46.82. The company has a fifty day moving average of $40.26 and a 200-day moving average of $41.13. The firm has a market capitalization of $6.48 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.52 and a beta of 1.30.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.35. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The business had revenue of $4.89 billion during the quarter, compared to analysts' expectations of $4.85 billion. During the same period last year, the company posted $1.91 earnings per share. The business's quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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 Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a $0.45 dividend. The ex-dividend date is Friday, April 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.3%. Lincoln National's dividend payout ratio (DPR) is currently 33.90%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LNC shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Lincoln National in a research report on Monday, December 29th. TD Cowen cut their price target on shares of Lincoln National from $43.00 to $38.00 and set a "hold" rating on the stock in a research report on Monday. Wells Fargo & Company upgraded Lincoln National from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $41.00 to $48.00 in a report on Wednesday, February 25th. Zacks Research lowered Lincoln National from a "strong-buy" rating to a "hold" rating in a research report on Thursday, December 4th. Finally, Piper Sandler boosted their price objective on Lincoln National from $42.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, December 23rd. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.62.

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.

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