Versor Investments LP Increases Stock Position in Lincoln National Corporation $LNC

Key Points

• Versor Investments LP has increased its holdings in Lincoln National Corporation by 205.9% in Q1, now owning 73,100 shares worth approximately $2.6 million, which is 0.4% of its total holdings.
• Lincoln National reported $2.36 EPS for the last quarter, exceeding analyst expectations of $1.91, despite revenue falling short of estimates at $4.04 billion.
• The company has declared a quarterly dividend of $0.45 per share, with a yield of 4.4%, to be paid on November 3rd to shareholders of record by October 10th.

Versor Investments LP lifted its holdings in Lincoln National Corporation (NYSE:LNC - Free Report) by 205.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,100 shares of the financial services provider's stock after buying an additional 49,200 shares during the period. Lincoln National makes up approximately 0.4% of Versor Investments LP's portfolio, making the stock its 23rd biggest holding. Versor Investments LP's holdings in Lincoln National were worth $2,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Lincoln National in the fourth quarter worth $8,155,000. Mariner LLC increased its position in shares of Lincoln National by 2.0% during the 4th 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 during the last quarter. Guggenheim Capital LLC raised its stake in shares of Lincoln National by 33.5% during the 4th quarter. Guggenheim Capital LLC now owns 14,356 shares of the financial services provider's stock worth $455,000 after purchasing an additional 3,606 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Lincoln National by 11.4% in the 4th quarter. NewEdge Advisors LLC now owns 44,820 shares of the financial services provider's stock worth $1,421,000 after buying an additional 4,578 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Lincoln National in the 4th quarter worth about $6,202,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Price Performance

Shares of NYSE:LNC traded up $1.2040 on Friday, hitting $41.8540. The company's stock had a trading volume of 764,158 shares, compared to its average volume of 1,956,980. The company has a market capitalization of $7.93 billion, a PE ratio of 7.31, a PEG ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. The company has a 50-day simple moving average of $35.80 and a 200 day simple moving average of $34.84. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $42.36.

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

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, October 10th. Lincoln National's dividend payout ratio is presently 31.41%.

Wall Street Analysts Forecast Growth

LNC has been the subject of a number of research analyst reports. National Bankshares set a $41.00 price objective on shares of Lincoln National in a report on Monday. Wells Fargo & Company reissued a "positive" rating on shares of Lincoln National in a report on Tuesday, August 5th. Wall Street Zen upgraded Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Piper Sandler cut their target price on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, Barclays lifted their target price on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $39.70.

Insider Activity

In other news, EVP John Christopher Kennedy sold 5,000 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Kroll sold 10,075 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the transaction, the executive vice president directly owned 48,743 shares in the company, valued at $1,613,393.30. This trade 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 have sold 58,697 shares of company stock worth $1,959,862. 0.51% of the stock is currently owned by insiders.

About Lincoln National

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.