Jump Financial LLC Has $5.11 Million Position in Lincoln National Corporation $LNC

Key Points

• Jump Financial LLC has decreased its stake in Lincoln National Corporation by 10.1%, owning approximately $5.11 million worth of shares after selling 15,974 shares.
• Lincoln National recently reported an EPS of $2.36 for the quarter, exceeding estimates by $0.45, alongside a revenue of $4.04 billion, which fell short of expectations.
• The company declared a quarterly dividend of $0.45 per share, representing an annualized dividend yield of 4.3%, with the ex-dividend date set for October 10th.

Jump Financial LLC decreased its position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 10.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,185 shares of the financial services provider's stock after selling 15,974 shares during the quarter. Jump Financial LLC owned about 0.08% of Lincoln National worth $5,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LNC. Balyasny Asset Management L.P. boosted its stake in Lincoln National by 301.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock worth $48,269,000 after acquiring an additional 1,142,759 shares during the last quarter. SG Americas Securities LLC boosted its stake in Lincoln National by 1,818.4% during the 1st quarter. SG Americas Securities LLC now owns 661,972 shares of the financial services provider's stock worth $23,771,000 after acquiring an additional 627,466 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Lincoln National by 141.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 673,095 shares of the financial services provider's stock worth $24,171,000 after acquiring an additional 394,028 shares during the last quarter. Nuveen LLC bought a new position in Lincoln National during the 1st quarter worth approximately $12,645,000. Finally, Vest Financial LLC bought a new position in Lincoln National during the 1st quarter worth approximately $11,379,000. Institutional investors own 72.81% of the company's stock.

Analyst Upgrades and Downgrades

LNC has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company restated a "positive" rating on shares of Lincoln National in a report on Tuesday, August 5th. Barclays raised their target price 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. Keefe, Bruyette & Woods lifted their price objective on shares of Lincoln National from $40.00 to $42.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Finally, Cfra Research upgraded shares of Lincoln National to a "hold" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $39.70.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 5,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were 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 approximately $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company's stock.

Lincoln National Stock Up 0.4%

Shares of NYSE LNC traded up $0.16 during midday trading on Friday, reaching $42.93. The company's stock had a trading volume of 1,414,452 shares, compared to its average volume of 1,779,095. The stock has a market capitalization of $8.14 billion, a price-to-earnings ratio of 7.49, a PEG ratio of 0.59 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 $43.12. The stock has a 50 day simple moving average of $36.94 and a 200-day simple moving average of $35.05. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67.

Lincoln National (NYSE:LNC - Get Free Report) last issued its 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 previous year, the company earned $1.87 earnings per share. Equities research analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

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 issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, October 10th. Lincoln National's 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.