Hsbc Holdings PLC Has $74.23 Million Stock Holdings in Lincoln National Corporation $LNC

Key Points

• Hsbc Holdings PLC reduced its holdings in Lincoln National Corporation by 6.7%, owning 2,080,461 shares valued at approximately $74.23 million after selling 149,484 shares in the first quarter.
• Lincoln National recently declared a quarterly dividend of $0.45 per share, translating to an annual yield of 4.4% and a payout ratio of 31.41%.
• Lincoln National's latest quarterly earnings report revealed an EPS of $2.36, exceeding analyst expectations, while revenue fell short at $4.04 billion compared to the expected $4.65 billion.

Hsbc Holdings PLC decreased its position in Lincoln National Corporation (NYSE:LNC - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,080,461 shares of the financial services provider's stock after selling 149,484 shares during the period. Hsbc Holdings PLC owned 1.22% of Lincoln National worth $74,234,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft boosted its holdings in Lincoln National by 4.7% in the first quarter. Baader Bank Aktiengesellschaft now owns 7,329 shares of the financial services provider's stock valued at $261,000 after acquiring an additional 329 shares during the last quarter. SYM FINANCIAL Corp boosted its holdings in Lincoln National by 5.9% in the first quarter. SYM FINANCIAL Corp now owns 7,154 shares of the financial services provider's stock valued at $257,000 after acquiring an additional 400 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Lincoln National by 5.9% during 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. Gotham Asset Management LLC boosted its holdings in Lincoln National by 4.7% during the fourth quarter. Gotham Asset Management LLC now owns 11,720 shares of the financial services provider's stock worth $372,000 after buying an additional 524 shares during the last quarter. Finally, Brooklyn Investment Group boosted its holdings in Lincoln National by 82.9% during the first quarter. Brooklyn Investment Group now owns 1,156 shares of the financial services provider's stock worth $42,000 after buying an additional 524 shares during the last quarter. Institutional investors own 72.81% of the company's stock.

Insider Activity at Lincoln National

In related news, EVP Sean Woodroffe sold 43,622 shares of Lincoln National stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the sale, the executive vice president owned 154,102 shares of the company's stock, valued at approximately $5,051,463.56. This trade represents a 22.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the sale, the executive vice president directly owned 123,815 shares in the company, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,697 shares of company stock valued at $1,959,862. 0.51% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LNC shares. Barclays raised their target price on Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Cfra Research upgraded Lincoln National to a "hold" rating in a report on Wednesday, August 6th. National Bankshares set a $41.00 target price on Lincoln National in a report on Monday, August 18th. Keefe, Bruyette & Woods raised their target price on Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Finally, Morgan Stanley raised their target price on Lincoln National from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lincoln National currently has a consensus rating of "Hold" and a consensus price target of $39.70.

Lincoln National Stock Up 3.1%

Shares of NYSE LNC traded up $1.2640 during mid-day trading on Friday, reaching $41.9140. 1,868,723 shares of the company's stock were exchanged, compared to its average volume of 2,244,095. The firm has a market capitalization of $7.95 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 0.58 and a beta of 1.42. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67. The business has a fifty day simple moving average of $35.99 and a 200 day simple moving average of $34.91. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $42.36.

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 analysts' consensus estimates of $1.91 by $0.45. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.During the same quarter last year, the firm posted $1.87 earnings per share. As a group, equities analysts expect that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National's dividend payout ratio (DPR) is currently 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.