Canada Pension Plan Investment Board Sells 140,000 Shares of Lincoln National Corporation $LNC

Key Points

• The Canada Pension Plan Investment Board sold 140,000 shares of Lincoln National Corporation, reducing its stake by 71.6% to 55,600 shares valued at approximately $1.997 million.
• JPMorgan Chase & Co., Barclays, and Morgan Stanley have recently adjusted their price targets for Lincoln National's stock, with a consensus target price now set at $39.70.
• Lincoln National announced a quarterly dividend of $0.45, scheduled for payment on November 3rd, representing an annualized yield of 4.2% based on a payout ratio of 31.41%.

Canada Pension Plan Investment Board decreased its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 71.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,600 shares of the financial services provider's stock after selling 140,000 shares during the quarter. Canada Pension Plan Investment Board's holdings in Lincoln National were worth $1,997,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its position in Lincoln National by 5.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,236 shares of the financial services provider's stock worth $293,000 after buying an additional 513 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Lincoln National by 22.1% during the 4th quarter. Benjamin Edwards Inc. now owns 43,324 shares of the financial services provider's stock valued at $1,374,000 after acquiring an additional 7,850 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of Lincoln National during the 4th quarter worth $292,000. EP Wealth Advisors LLC grew its holdings in shares of Lincoln National by 16.7% in the 4th quarter. EP Wealth Advisors LLC now owns 10,539 shares of the financial services provider's stock worth $334,000 after acquiring an additional 1,507 shares during the last quarter. Finally, Deutsche Bank AG raised its position in shares of Lincoln National by 158.7% during the fourth quarter. Deutsche Bank AG now owns 247,328 shares of the financial services provider's stock worth $7,843,000 after purchasing an additional 151,731 shares during the period. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Stock Down 0.0%

Lincoln National stock traded down $0.02 during trading hours on Wednesday, hitting $41.56. The company had a trading volume of 1,494,827 shares, compared to its average volume of 1,604,924. The firm's fifty day moving average is $38.27 and its 200-day moving average is $35.30. The firm has a market capitalization of $7.88 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $43.66. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.91 by $0.45. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $1.87 earnings per share. On average, research analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued 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 4.3%. Lincoln National's dividend payout ratio is currently 31.41%.

Insider Activity at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president directly owned 123,815 shares in the company, valued at $4,864,691.35. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. National Bankshares set a $41.00 price target on Lincoln National in a research report on Monday, August 18th. Wells Fargo & Company reaffirmed a "positive" rating on shares of Lincoln National in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley boosted their price target on shares of Lincoln National from $38.00 to $41.00 and gave the company an "equal weight" rating in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.70.

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.