Algert Global LLC Sells 116,055 Shares of Lincoln National Corporation $LNC

Key Points

• Algert Global LLC has reduced its stake in Lincoln National Corporation by 43.6%, owning 150,289 shares after selling 116,055 during the first quarter.
• Multiple institutional investors have recently adjusted their stakes, with Balyasny Asset Management increasing its holdings by 301.2%, while SG Americas Securities raised theirs by 1,818.4%.
• Lincoln National Corporation reported a $2.36 EPS for the last quarter, exceeding expectations, and announced a quarterly dividend of $0.45 per share, signifying a 4.5% dividend yield.

Algert Global LLC reduced its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 43.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,289 shares of the financial services provider's stock after selling 116,055 shares during the period. Algert Global LLC owned approximately 0.09% of Lincoln National worth $5,397,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. grew its holdings in shares of Lincoln National by 3.9% during the 1st quarter. Raymond James Financial Inc. now owns 267,204 shares of the financial services provider's stock worth $9,595,000 after purchasing an additional 10,018 shares in the last quarter. Cowa LLC grew its holdings in shares of Lincoln National by 5.1% during the 1st quarter. Cowa LLC now owns 20,040 shares of the financial services provider's stock worth $720,000 after purchasing an additional 981 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Lincoln National by 271.2% during the 1st quarter. American Century Companies Inc. now owns 180,079 shares of the financial services provider's stock worth $6,467,000 after purchasing an additional 131,566 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lincoln National by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider's stock worth $110,753,000 after purchasing an additional 208,114 shares in the last quarter. Finally, Fox Run Management L.L.C. grew its holdings in shares of Lincoln National by 5.5% during the 1st quarter. Fox Run Management L.L.C. now owns 30,419 shares of the financial services provider's stock worth $1,092,000 after purchasing an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LNC. Barclays boosted their price target on Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. National Bankshares set a $41.00 price target on Lincoln National in a research note on Monday. Cfra Research raised Lincoln National to a "hold" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley boosted their price target on Lincoln National from $38.00 to $41.00 and gave the company an "equal weight" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $39.70.

Lincoln National Price Performance

Lincoln National stock traded up $1.2640 on Friday, reaching $41.9140. The company's stock had a trading volume of 1,868,723 shares, compared to its average volume of 2,244,095. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 0.56 and a beta of 1.42. The business's fifty day moving average price is $35.99 and its 200 day moving average price is $34.90. 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 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 company had revenue of $4.04 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $1.87 earnings per share. Equities analysts expect that Lincoln National Corporation will post 7.69 earnings per share 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. Stockholders of record on Friday, October 10th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. Lincoln National's payout ratio is presently 31.41%.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the business's stock in a transaction 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 completion of the sale, the executive vice president owned 123,815 shares in the company, valued at $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the sale, the executive vice president owned 48,743 shares of the company's stock, valued at approximately $1,613,393.30. The trade was a 17.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,697 shares of company stock worth $1,959,862 over the last 90 days. 0.51% of the stock is owned by insiders.

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.