Lincoln National Corporation (NYSE:LNC) Shares Sold by Easterly Investment Partners LLC

Easterly Investment Partners LLC lowered its position in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 8.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 586,941 shares of the financial services provider's stock after selling 54,364 shares during the quarter. Lincoln National accounts for about 1.8% of Easterly Investment Partners LLC's investment portfolio, making the stock its 7th biggest holding. Easterly Investment Partners LLC owned about 0.34% of Lincoln National worth $21,077,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LNC. Atria Investments Inc acquired a new position in shares of Lincoln National in the fourth quarter valued at about $249,000. Proficio Capital Partners LLC acquired a new stake in shares of Lincoln National during the 4th quarter worth approximately $1,050,000. Raymond James Financial Inc. acquired a new stake in Lincoln National in the 4th quarter valued at $8,155,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Lincoln National by 22.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,690 shares of the financial services provider's stock worth $1,449,000 after acquiring an additional 8,487 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Lincoln National by 22.6% during the 4th quarter. HighTower Advisors LLC now owns 32,844 shares of the financial services provider's stock worth $1,041,000 after purchasing an additional 6,048 shares during the period. Institutional investors and hedge funds own 72.81% of the company's stock.

Insider Buying and Selling at Lincoln National

In related news, EVP Sean Woodroffe sold 43,622 shares of Lincoln National stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the completion of the transaction, the executive vice president directly owned 154,102 shares in the company, valued at approximately $5,051,463.56. This trade represents a 22.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of Lincoln National stock in a transaction dated 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 in the company, valued at $1,613,393.30. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by company insiders.

Lincoln National Trading Up 0.2%

LNC traded up $0.06 during trading hours on Friday, reaching $34.54. 1,589,312 shares of the company's stock traded hands, compared to its average volume of 1,692,412. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $33.71 and a 200 day moving average price of $34.04. The firm has a market capitalization of $5.90 billion, a PE ratio of 4.91, a PEG ratio of 0.50 and a beta of 1.39. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the previous year, the business earned $0.41 EPS. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. As a group, sell-side analysts predict that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.21%. Lincoln National's dividend payout ratio is presently 25.57%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LNC. Piper Sandler cut their target price on Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Wall Street Zen cut Lincoln National from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Wells Fargo & Company increased their target price on Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Barclays increased their target price on Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. increased their price objective on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $38.78.

Lincoln National Company 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.