Easterly Investment Partners LLC Sells 36,614 Shares of Lincoln National Corporation $LNC

Key Points

• Easterly Investment Partners trimmed its Lincoln National stake by 7.1% in the fourth quarter, selling 36,614 shares and leaving it with 481,284 shares valued at about $21.4 million.
• Wall Street sentiment is mixed: Lincoln National currently carries an average analyst rating of “Hold” with a consensus price target of $43, even as some firms raised targets and others lowered them.
• Lincoln National reported solid quarterly results, posting EPS of $1.66 versus estimates of $1.58 and announcing a quarterly dividend of $0.45 per share, equal to a 5.1% annualized yield.

Easterly Investment Partners LLC cut its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 481,284 shares of the financial services provider's stock after selling 36,614 shares during the quarter. Lincoln National comprises 1.3% of Easterly Investment Partners LLC's portfolio, making the stock its 9th biggest holding. Easterly Investment Partners LLC owned 0.25% of Lincoln National worth $21,432,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Measured Wealth Private Client Group LLC increased its holdings in shares of Lincoln National by 145.7% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 20,709 shares of the financial services provider's stock worth $922,000 after acquiring an additional 12,279 shares during the last quarter. Norges Bank acquired a new position in shares of Lincoln National during the 4th quarter worth approximately $101,114,000. Fideuram Asset Management Ireland dac acquired a new position in Lincoln National in the 4th quarter valued at about $273,000. Jupiter Asset Management Ltd. acquired a new position in Lincoln National in the 4th quarter valued at about $31,867,000. Finally, Kingsview Wealth Management LLC grew its stake in Lincoln National by 7.8% in the 4th quarter. Kingsview Wealth Management LLC now owns 19,511 shares of the financial services provider's stock valued at $869,000 after buying an additional 1,406 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on LNC. Keefe, Bruyette & Woods upped their price target on shares of Lincoln National from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, May 13th. Bank of America decreased their price target on shares of Lincoln National from $41.00 to $37.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of Lincoln National from a "buy (b-)" rating to a "hold (c)" rating in a research note on Monday, May 11th. National Bank Financial set a $40.00 price target on shares of Lincoln National in a research note on Thursday, May 21st. Finally, Barclays decreased their price objective on Lincoln National from $44.00 to $42.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 8th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $43.00.

Insider Activity

In other Lincoln National news, EVP Sean Woodroffe sold 8,000 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $32.74, for a total transaction of $261,920.00. Following the transaction, the executive vice president owned 198,159 shares in the company, valued at $6,487,725.66. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.03% of the stock is currently owned by insiders.

Lincoln National Stock Performance

Shares of NYSE LNC opened at $35.30 on Monday. The stock's fifty day moving average price is $35.58 and its two-hundred day moving average price is $38.93. Lincoln National Corporation has a one year low of $31.69 and a one year high of $46.82. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 4.09, a P/E/G ratio of 2.26 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.25 and a quick ratio of 0.25.

Lincoln National (NYSE:LNC - Get Free Report) last announced its earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the business posted $1.60 EPS. The business's revenue was up 13.1% compared to the same quarter last year. On average, equities analysts forecast that Lincoln National Corporation will post 7.72 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, July 10th. Lincoln National's dividend payout ratio is presently 20.88%.

About Lincoln National

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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