Lincoln National Corporation $LNC Shares Sold by Altus Wealth Group LLC

Key Points

• Altus Wealth Group LLC significantly reduced its stake in Lincoln National Corporation by 64.7%, selling over 11,000 shares and now owning a total of 6,040 shares valued at approximately $209,000.
• Lincoln National recently reported earnings of $2.36 per share, exceeding analyst expectations, but its revenue of $4.04 billion fell short of the estimated $4.65 billion, indicating mixed financial performance.
• The company announced a quarterly dividend of $0.45 per share, set to be distributed on November 3rd, reflecting a solid yield of 4.5% and a payout ratio of 31.41%.

Altus Wealth Group LLC cut its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 64.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,040 shares of the financial services provider's stock after selling 11,082 shares during the period. Altus Wealth Group LLC's holdings in Lincoln National were worth $209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hollencrest Capital Management boosted its position in Lincoln National by 383.2% in the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock valued at $27,000 after buying an additional 594 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Lincoln National during the second quarter worth about $29,000. NBC Securities Inc. bought a new position in Lincoln National in the first quarter worth about $33,000. Brooklyn Investment Group lifted its holdings in Lincoln National by 82.9% in the first quarter. Brooklyn Investment Group now owns 1,156 shares of the financial services provider's stock worth $42,000 after acquiring an additional 524 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Lincoln National in the second quarter valued at approximately $42,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value 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. This represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.51% of the company's stock.

Lincoln National Stock Down 1.3%

Shares of Lincoln National stock opened at $40.21 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average price of $39.68 and a 200 day moving average price of $35.60. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $43.66.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.45. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the business posted $1.87 EPS. Equities research analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm 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 4.5%. The ex-dividend date is Friday, October 10th. Lincoln National's dividend payout ratio (DPR) is presently 31.41%.

Analysts Set New Price Targets

Several brokerages have commented on LNC. Morgan Stanley upgraded shares of Lincoln National from an "equal weight" rating to an "overweight" rating in a research note on Friday, September 19th. Wells Fargo & Company reaffirmed a "positive" rating on shares of Lincoln National in a research note on Tuesday, August 5th. National Bankshares set a $41.00 target price on shares of Lincoln National in a research note on Monday, August 18th. JPMorgan Chase & Co. raised their price target on shares of Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $39.45.

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.

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