Deutsche Bank AG Sells 145,236 Shares of Lincoln National Corporation $LNC

Key Points

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Deutsche Bank AG lessened its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 58.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,092 shares of the financial services provider's stock after selling 145,236 shares during the period. Deutsche Bank AG owned approximately 0.06% of Lincoln National worth $3,666,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Baader Bank Aktiengesellschaft raised its stake in Lincoln National by 4.7% during the first quarter. Baader Bank Aktiengesellschaft now owns 7,329 shares of the financial services provider's stock valued at $261,000 after purchasing an additional 329 shares in the last quarter. SYM FINANCIAL Corp raised its stake in Lincoln National by 5.9% during the first quarter. SYM FINANCIAL Corp now owns 7,154 shares of the financial services provider's stock valued at $257,000 after purchasing an additional 400 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Lincoln National by 5.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,236 shares of the financial services provider's stock valued at $293,000 after purchasing an additional 513 shares in the last quarter. Gotham Asset Management LLC raised its stake in Lincoln National by 4.7% during the fourth quarter. Gotham Asset Management LLC now owns 11,720 shares of the financial services provider's stock valued at $372,000 after purchasing an additional 524 shares in the last quarter. Finally, Mariner LLC raised its stake in Lincoln National by 2.0% during the fourth quarter. Mariner LLC now owns 28,934 shares of the financial services provider's stock valued at $917,000 after purchasing an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Trading Up 3.1%

Shares of LNC stock traded up $1.2640 on Friday, reaching $41.9140. 1,868,723 shares of the company's stock were exchanged, compared to its average volume of 2,244,095. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $42.36. 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 stock has a market capitalization of $7.95 billion, a PE ratio of 7.31, a P/E/G ratio of 0.58 and a beta of 1.42. The company's fifty day simple moving average is $35.99 and its 200 day simple moving average is $34.91.

Lincoln National (NYSE:LNC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $1.87 EPS. As a group, analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National's dividend payout ratio (DPR) is currently 31.41%.

Analyst Upgrades and Downgrades

LNC has been the subject of a number of recent research reports. Piper Sandler dropped their target price on Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. lifted their target price on Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted their target price on Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Morgan Stanley lifted their target price on Lincoln National from $38.00 to $41.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. Finally, National Bankshares set a $41.00 target price on Lincoln National in a report on Monday, August 18th. One equities research 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 MarketBeat.com, the company 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 firm'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 completion of the sale, the executive vice president directly owned 123,815 shares of the company's stock, valued at approximately $4,864,691.35. This trade represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Kroll sold 10,075 shares of the firm's stock in a transaction that occurred 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 directly owned 48,743 shares of the company's stock, valued at $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,697 shares of company stock valued at $1,959,862. Insiders own 0.51% of the company's stock.

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.