Easterly Investment Partners LLC Lowers Position in Lincoln National Corporation $LNC

Key Points

• Easterly Investment Partners LLC reduced its stake in Lincoln National Corporation by 3.9%, now holding 564,165 shares valued at approximately $19.5 million.
• Multiple institutional investors, including Janney Montgomery Scott LLC and Allspring Global Investments Holdings LLC, have recently increased their stakes in Lincoln National, showcasing a trend of growing confidence in the stock.
• The company declared a quarterly dividend of $0.45 per share, representing a 4.7% yield, with an ex-dividend date of October 10th.

Easterly Investment Partners LLC lowered its stake in Lincoln National Corporation (NYSE:LNC - Free Report) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 564,165 shares of the financial services provider's stock after selling 22,776 shares during the period. Lincoln National accounts for about 1.4% of Easterly Investment Partners LLC's holdings, making the stock its 11th largest holding. Easterly Investment Partners LLC owned 0.33% of Lincoln National worth $19,520,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in Lincoln National by 22.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider's stock valued at $6,642,000 after purchasing an additional 33,644 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Lincoln National by 34.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 204,010 shares of the financial services provider's stock worth $7,346,000 after buying an additional 51,823 shares during the last quarter. DMC Group LLC lifted its stake in shares of Lincoln National by 47.1% in the first quarter. DMC Group LLC now owns 25,749 shares of the financial services provider's stock worth $925,000 after buying an additional 8,250 shares in the last quarter. Smith Salley Wealth Management purchased a new stake in shares of Lincoln National during the first quarter valued at approximately $268,000. Finally, Atlas Capital Advisors Inc. grew its holdings in shares of Lincoln National by 4,083.7% during the first quarter. Atlas Capital Advisors Inc. now owns 19,705 shares of the financial services provider's stock valued at $708,000 after buying an additional 19,234 shares during the last quarter. Institutional investors own 72.81% of the company's stock.

Wall Street Analysts Forecast Growth

LNC has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Morgan Stanley lowered their price objective on Lincoln National from $58.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 7th. Wall Street Zen raised Lincoln National from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Barclays upped their price objective on Lincoln National from $42.00 to $46.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 8th. Finally, Cfra Research raised Lincoln National to a "hold" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $43.09.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 5,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the sale, the executive vice president directly owned 123,815 shares in the company, valued at approximately $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.51% of the company's stock.

Lincoln National Trading Down 3.7%

NYSE:LNC opened at $38.05 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. Lincoln National Corporation has a one year low of $27.58 and a one year high of $43.66. The business has a fifty day moving average price of $40.81 and a 200-day moving average price of $35.97.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the business posted $1.87 EPS. Sell-side analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, October 10th. Lincoln National's dividend payout ratio is presently 31.41%.

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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