Jaffetilchin Investment Partners LLC Sells 22,670 Shares of Lincoln National Corporation (NYSE:LNC)

Jaffetilchin Investment Partners LLC cut its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 23.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,137 shares of the financial services provider's stock after selling 22,670 shares during the quarter. Jaffetilchin Investment Partners LLC's holdings in Lincoln National were worth $2,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Lincoln National during the 4th quarter valued at $76,951,000. Balyasny Asset Management L.P. raised its position in Lincoln National by 301.2% in the fourth 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 purchasing an additional 1,142,759 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Lincoln National by 84.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider's stock valued at $48,948,000 after purchasing 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% during the first quarter. SG Americas Securities LLC now owns 661,972 shares of the financial services provider's stock valued at $23,771,000 after purchasing an additional 627,466 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Lincoln National by 190.9% during the fourth quarter. LPL Financial LLC now owns 741,330 shares of the financial services provider's stock worth $23,508,000 after purchasing an additional 486,478 shares during the last quarter. Institutional investors own 72.81% of the company's stock.

Lincoln National Stock Performance

LNC stock opened at $34.53 on Friday. The firm has a market cap of $5.89 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $32.93 and a 200-day moving average price of $33.74. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.71 billion. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The firm's revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. As a group, equities research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

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

Insider Buying and Selling

In other Lincoln National news, EVP Sean Woodroffe sold 43,622 shares of the 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 transaction, the executive vice president now owns 154,102 shares in the company, valued at approximately $5,051,463.56. This represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the sale, the executive vice president now owns 48,743 shares of the company's stock, valued at approximately $1,613,393.30. This represents a 17.13% decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LNC shares. Piper Sandler cut their target price on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Barclays lifted their price target on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Wall Street Zen cut shares of Lincoln National from a "hold" rating to a "sell" rating in a research note on Sunday, June 15th. Wells Fargo & Company lowered their target price on Lincoln National from $36.00 to $31.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, UBS Group upped their price target on Lincoln National from $32.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Lincoln National currently has a consensus rating of "Hold" and a consensus target price of $36.82.

About Lincoln National

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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