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Lincoln National Corporation $LNC Shares Sold by Hotchkis & Wiley Capital Management LLC

Lincoln National logo with Finance background

Key Points

  • Hotchkis & Wiley Capital Management LLC has reduced its stake in Lincoln National Corporation by 5.8%, now owning approximately 198,480 shares valued at $7.13 million.
  • Following its latest quarterly earnings, Lincoln National reported earnings per share of $2.36, exceeding estimates, although revenue fell short of expectations at $4.04 billion.
  • The company announced a quarterly dividend of $0.45 per share, translating to an annualized dividend of $1.80 and a dividend yield of 4.3%, with the ex-dividend date set for October 10th.
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Hotchkis & Wiley Capital Management LLC lessened its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 5.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 198,480 shares of the financial services provider's stock after selling 12,120 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.12% of Lincoln National worth $7,127,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LNC. Hollencrest Capital Management lifted its holdings in Lincoln National by 383.2% in the first 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 period. Kapitalo Investimentos Ltda bought a new stake in Lincoln National in the 4th quarter worth about $32,000. NBC Securities Inc. purchased a new position in Lincoln National in the first quarter valued at about $33,000. Brooklyn Investment Group lifted 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 valued at $42,000 after buying an additional 524 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in Lincoln National during the 1st quarter worth approximately $66,000. Institutional investors and hedge funds own 72.81% of the company's stock.

Insider Activity

In related news, EVP John Christopher Kennedy sold 5,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.51% of the company's stock.

Lincoln National Price Performance

NYSE LNC traded up $0.16 on Friday, hitting $42.93. The company had a trading volume of 889,689 shares, compared to its average volume of 1,944,572. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $43.12. The company has a market capitalization of $8.14 billion, a PE ratio of 7.49, a PEG ratio of 0.58 and a beta of 1.42. The company's fifty day moving average price is $36.74 and its 200-day moving average price is $35.07. 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 (NYSE:LNC - Get Free Report) last released its 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 net margin of 6.34% and a return on equity of 19.14%. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the firm earned $1.87 earnings per share. As a group, analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.2%. Lincoln National's dividend payout ratio is currently 31.41%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. National Bankshares set a $41.00 target price on shares of Lincoln National in a report on Monday, August 18th. Keefe, Bruyette & Woods lifted their price target on shares of Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Barclays upped their price target on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Wall Street Zen raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Cfra Research raised shares of Lincoln National to a "hold" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $39.70.

View Our Latest Report on Lincoln National

Lincoln National Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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