Kovitz Investment Group Partners LLC Sells 32,540 Shares of Lincoln National Corporation $LNC

Key Points

• Kovitz Investment Group Partners cut its Lincoln National stake by 39.8% in the fourth quarter, selling 32,540 shares and leaving it with 49,233 shares worth about $2.19 million.
• Lincoln National reported quarterly earnings of $1.66 per share, beating analyst expectations, while revenue came in slightly below estimates at $4.87 billion but still rose 13.1% year over year.
• The company declared a quarterly dividend of $0.45 per share, implying an annualized yield of about 4.8%, as analysts currently rate the stock a consensus Hold with a $43 target price.

Kovitz Investment Group Partners LLC lowered its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 39.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,233 shares of the financial services provider's stock after selling 32,540 shares during the period. Kovitz Investment Group Partners LLC's holdings in Lincoln National were worth $2,192,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Lincoln National during the fourth quarter valued at $31,000. Transamerica Financial Advisors LLC purchased a new position in shares of Lincoln National during the 4th quarter valued at $32,000. JPL Wealth Management LLC purchased a new position in shares of Lincoln National during the 3rd quarter valued at $29,000. Los Angeles Capital Management LLC bought a new position in shares of Lincoln National during the 4th quarter worth $34,000. Finally, Laurel Wealth Advisors LLC purchased a new stake in Lincoln National in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 72.81% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on LNC. Morgan Stanley dropped their price objective on shares of Lincoln National from $43.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Keefe, Bruyette & Woods lifted their target price on shares of Lincoln National from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Bank of America lowered 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 report on Tuesday, April 14th. TD Cowen dropped their price target on shares of Lincoln National from $43.00 to $38.00 and set a "hold" rating on the stock in a research note on Monday, March 9th. Finally, Wells Fargo & Company raised their price objective on shares of Lincoln National from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Lincoln National currently has an average rating of "Hold" and a consensus target price of $43.00.

Lincoln National Stock Up 0.2%

LNC opened at $37.24 on Friday. The firm has a market capitalization of $7.12 billion, a P/E ratio of 4.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17. Lincoln National Corporation has a one year low of $31.69 and a one year high of $46.82. The company has a fifty day moving average price of $35.91 and a 200-day moving average price of $38.46. 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 issued its quarterly earnings data 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. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The firm's revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. Equities research analysts expect that Lincoln National Corporation will post 7.72 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.8%. Lincoln National's dividend payout ratio (DPR) is presently 20.88%.

Insider Buying and Selling at Lincoln National

In other news, EVP Craigt T. Beazer sold 30,000 shares of Lincoln National stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the completion of the sale, the executive vice president owned 103,906 shares in the company, valued at approximately $3,579,561.70. This trade represents a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.03% of the stock is currently owned by insiders.

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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