Lincoln National Corporation $LNC Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management reduced its Lincoln National stake by 10.8% in the second quarter, selling 54,912 shares and retaining 451,306 shares valued at approximately $15.95 million. Institutional investors and hedge funds collectively own 72.81% of LNC.
• Lincoln National reported quarterly earnings of $2.24 per share, exceeding estimates of $1.96, while revenue rose 12.3% year over year to $4.93 billion. The company declared a quarterly dividend of $0.45, implying a 4.0% annualized yield.
• Analyst sentiment remains mixed, with seven Buy, six Hold, and two Sell ratings; the consensus rating is Hold with a $47.07 average price target. Shares recently opened at $45.42, near their 52-week high of $47.67.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 10.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 451,306 shares of the financial services provider's stock after selling 54,912 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.24% of Lincoln National worth $15,954,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Trust Co. of Vermont purchased a new position in shares of Lincoln National in the second quarter worth about $28,000. JPL Wealth Management LLC purchased a new stake in Lincoln National in the third quarter valued at approximately $29,000. Transamerica Financial Advisors LLC acquired a new position in Lincoln National in the 4th quarter worth approximately $32,000. NBT Bank N A NY increased its holdings in Lincoln National by 2,051.1% in the 1st quarter. NBT Bank N A NY now owns 968 shares of the financial services provider's stock worth $34,000 after buying an additional 923 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Lincoln National during the 4th quarter worth approximately $34,000. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lincoln National

In other news, EVP Sean Woodroffe sold 11,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $45.28, for a total transaction of $498,080.00. Following the completion of the transaction, the executive vice president directly owned 119,947 shares of the company's stock, valued at $5,431,200.16. This represents a 8.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gary C. Kelly sold 15,007 shares of Lincoln National stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $26.50, for a total transaction of $397,685.50. The SEC filing for this sale provides additional information. Corporate insiders own 1.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LNC. Weiss Ratings upgraded shares of Lincoln National from a "hold (c)" rating to a "buy (b)" rating in a research note on Monday, August 3rd. National Bank Financial set a $50.00 price objective on shares of Lincoln National in a research note on Monday, August 24th. Jefferies Financial Group raised their target price on shares of Lincoln National from $56.00 to $57.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Morgan Stanley upped their price target on shares of Lincoln National from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, August 24th. Finally, JPMorgan Chase & Co. increased their price target on Lincoln National from $40.00 to $42.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 21st. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $47.07.

Lincoln National Stock Performance

LNC opened at $45.42 on Friday. The firm has a fifty day moving average price of $42.41 and a 200 day moving average price of $38.09. Lincoln National Corporation has a 1 year low of $32.18 and a 1 year high of $47.67. The stock has a market cap of $8.70 billion, a P/E ratio of 3.94, a P/E/G ratio of 1.61 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.96 by $0.28. The company had revenue of $4.93 billion during the quarter, compared to analysts' expectations of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The firm's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.36 earnings per share. Equities research analysts anticipate that Lincoln National Corporation will post 7.97 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, October 9th. Lincoln National's payout ratio is currently 15.60%.

Lincoln National Company Profile

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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