Kestra Advisory Services LLC Has $1.82 Million Position in Lincoln National Corporation $LNC

Key Points

• Kestra Advisory Services LLC reduced its stake in Lincoln National Corporation by 17.1%, selling 10,472 shares and holding 50,625 shares valued at approximately $1.8 million at the end of the first quarter.
• In recent personal transactions, EVP John Christopher Kennedy sold 5,000 shares for a total of $196,450, reducing his holdings by 3.88%.
• Analysts have mixed ratings on Lincoln National, with one upgrade to a "hold" rating and price targets varying from $36.00 to $41.00, while the stock currently has a consensus rating of "hold" and an average target price of $39.70.

Kestra Advisory Services LLC cut its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,625 shares of the financial services provider's stock after selling 10,472 shares during the period. Kestra Advisory Services LLC's holdings in Lincoln National were worth $1,818,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LNC. Hollencrest Capital Management raised its stake in shares of Lincoln National by 383.2% during the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock worth $27,000 after buying an additional 594 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Lincoln National during the 1st quarter worth approximately $33,000. Kapitalo Investimentos Ltda purchased a new position in shares of Lincoln National during the 4th quarter worth approximately $32,000. Brooklyn Investment Group raised its stake in shares of Lincoln National by 82.9% during the 1st 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 in the last quarter. Finally, Rossby Financial LCC purchased a new position in shares of Lincoln National during the 1st quarter worth approximately $66,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LNC shares. Keefe, Bruyette & Woods increased their target price on Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Piper Sandler cut their target price on Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Cfra Research raised Lincoln National to a "hold" rating in a research note on Wednesday, August 6th. Barclays increased their target price on Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company restated a "positive" rating on shares of Lincoln National in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $39.70.

Insider Buying and Selling

In related news, EVP John Christopher Kennedy sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the sale, the executive vice president owned 123,815 shares of the company's stock, valued at $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

Lincoln National Price Performance

NYSE:LNC traded down $0.26 during trading hours on Tuesday, reaching $42.67. 1,477,599 shares of the company traded hands, compared to its average volume of 1,945,638. The firm's 50-day moving average is $37.14 and its 200-day moving average is $35.08. The stock has a market cap of $8.09 billion, a P/E ratio of 7.45, a P/E/G ratio of 0.59 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $43.12.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.45. The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations 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 earned $1.87 earnings per share. Equities research analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders 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 dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National's payout ratio is 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.