Cambridge Investment Research Advisors Inc. Lowers Position in Lincoln National Corporation (NYSE:LNC)

Cambridge Investment Research Advisors Inc. cut its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,085 shares of the financial services provider's stock after selling 44,277 shares during the period. Cambridge Investment Research Advisors Inc. owned about 0.06% of Lincoln National worth $3,415,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of LNC. Norges Bank bought a new position in shares of Lincoln National during the fourth quarter valued at about $76,951,000. Balyasny Asset Management L.P. increased its stake in Lincoln National by 301.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock valued at $48,269,000 after buying an additional 1,142,759 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Lincoln National by 84.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider's stock worth $48,948,000 after buying an additional 708,584 shares in the last quarter. SG Americas Securities LLC boosted its stake 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 buying an additional 627,466 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Lincoln National by 190.9% in the fourth quarter. LPL Financial LLC now owns 741,330 shares of the financial services provider's stock valued at $23,508,000 after acquiring an additional 486,478 shares in the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Stock Performance

NYSE LNC opened at $34.57 on Monday. The firm has a market cap of $5.90 billion, a P/E ratio of 4.91, a price-to-earnings-growth ratio of 0.45 and a beta of 1.40. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.81. The company's 50 day moving average is $33.01 and its 200-day moving average is $33.76. 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 issued its earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.06. Lincoln National had a net margin of 7.00% and a return on equity of 18.71%. The business had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.71 billion. During the same quarter in the previous year, the firm posted $0.41 EPS. The business's revenue for the quarter was up 14.0% compared to the same quarter last year. Sell-side analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a $0.45 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.21%. Lincoln National's dividend payout ratio is currently 25.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LNC. Wall Street Zen lowered Lincoln National from a "hold" rating to a "sell" rating in a report on Sunday, June 15th. Wells Fargo & Company cut their price target on shares of Lincoln National from $36.00 to $31.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. UBS Group raised their price objective on shares of Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Barclays boosted their target price on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Finally, Piper Sandler decreased their price target on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $36.70.

Insider Buying and Selling at Lincoln National

In related news, EVP Sean Woodroffe sold 43,622 shares of Lincoln National stock in a transaction on 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 now owns 154,102 shares of the company's stock, valued at approximately $5,051,463.56. This trade represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the transaction, the executive vice president now owns 48,743 shares of the company's stock, valued at approximately $1,613,393.30. The trade was a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

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.

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