Blueshift Asset Management LLC Takes Position in Lincoln National Corporation (NYSE:LNC)

Key Points

• Blueshift Asset Management LLC acquired a new stake in Lincoln National Corporation worth approximately $449,000, buying 12,504 shares in the first quarter.
• Insider activity saw two executives, Brian Kroll and Sean Woodroffe, selling significant amounts of stock, leading to a decrease in their ownership by 17.13% and 22.06%, respectively.
• Despite a quarterly earnings report that surpassed expectations, analysts have a mixed outlook on Lincoln National, with a consensus rating of "Hold" and a price target averaging $38.78.

Blueshift Asset Management LLC purchased a new position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 12,504 shares of the financial services provider's stock, valued at approximately $449,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Lincoln National by 14.4% in the fourth quarter. JPMorgan Chase & Co. now owns 330,755 shares of the financial services provider's stock valued at $10,488,000 after purchasing an additional 41,533 shares during the period. Alliancebernstein L.P. grew its holdings in Lincoln National by 24.7% in the fourth quarter. Alliancebernstein L.P. now owns 215,871 shares of the financial services provider's stock valued at $6,845,000 after purchasing an additional 42,822 shares during the period. Franklin Resources Inc. grew its holdings in Lincoln National by 6.1% in the fourth quarter. Franklin Resources Inc. now owns 101,511 shares of the financial services provider's stock valued at $3,219,000 after purchasing an additional 5,834 shares during the period. HighPoint Advisor Group LLC grew its holdings in Lincoln National by 3.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 8,460 shares of the financial services provider's stock valued at $268,000 after purchasing an additional 262 shares during the period. Finally, National Bank of Canada FI lifted its position in Lincoln National by 20,127.5% during the fourth quarter. National Bank of Canada FI now owns 316,965 shares of the financial services provider's stock valued at $10,051,000 after buying an additional 315,398 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Stock Performance

Shares of Lincoln National stock traded up $0.66 during trading on Wednesday, hitting $39.44. 2,051,031 shares of the stock were exchanged, compared to its average volume of 1,977,481. The stock's fifty day moving average is $34.19 and its 200 day moving average is $34.36. The stock has a market cap of $7.48 billion, a PE ratio of 6.88, a P/E/G ratio of 0.53 and a beta of 1.42. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. Lincoln National Corporation has a 12 month low of $27.58 and a 12 month high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last released 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 analyst estimates of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same quarter in the prior year, the firm earned $1.87 earnings per share. 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 business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 10th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.80 annualized dividend and a yield of 4.6%. Lincoln National's dividend payout ratio is presently 31.41%.

Insider Activity

In related news, EVP Brian Kroll sold 10,075 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the sale, the executive vice president owned 48,743 shares of the company's stock, valued at $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sean Woodroffe sold 43,622 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total transaction of $1,429,929.16. Following the completion of the sale, the executive vice president directly owned 154,102 shares of the company's stock, valued at $5,051,463.56. The trade was a 22.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on LNC shares. Wells Fargo & Company reaffirmed a "positive" rating on shares of Lincoln National in a research report on Tuesday. Wall Street Zen raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. boosted their target price on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. Barclays boosted their target price on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $39.22.

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.