National Bank of Canada FI Decreases Position in Lincoln National Corporation (NYSE:LNC)

Key Points

• National Bank of Canada FI has reduced its stake in Lincoln National Corporation by 23.1%, now owning approximately 0.14% of the company, valued at $8.75 million.
• Several other institutional investors have adjusted their positions, with notable purchases including a new stake valued at $516,000 by PARK CIRCLE Co and a 10.1% increase by Blair William & Co., Illinois.
• Lincoln National reported earnings of $2.36 per share, exceeding estimates, and recently declared a quarterly dividend of $0.45 per share, reflecting a 4.5% yield for investors.

National Bank of Canada FI cut its holdings in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 23.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,629 shares of the financial services provider's stock after selling 73,336 shares during the period. National Bank of Canada FI owned 0.14% of Lincoln National worth $8,749,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Baader Bank Aktiengesellschaft raised its position in shares of Lincoln National by 4.7% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 7,329 shares of the financial services provider's stock worth $261,000 after purchasing an additional 329 shares during the last quarter. SYM FINANCIAL Corp raised its position in shares of Lincoln National by 5.9% during the 1st quarter. SYM FINANCIAL Corp now owns 7,154 shares of the financial services provider's stock worth $257,000 after purchasing an additional 400 shares during the last quarter. Treasurer of the State of North Carolina raised its position in shares of Lincoln National by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 74,806 shares of the financial services provider's stock worth $2,372,000 after purchasing an additional 470 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Lincoln National by 5.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,236 shares of the financial services provider's stock worth $293,000 after purchasing an additional 513 shares during the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of Lincoln National by 4.7% during the 4th quarter. Gotham Asset Management LLC now owns 11,720 shares of the financial services provider's stock worth $372,000 after purchasing an additional 524 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Lincoln National Trading Down 1.1%

Shares of Lincoln National stock traded down $0.46 during mid-day trading on Friday, hitting $40.52. The stock had a trading volume of 1,620,939 shares, compared to its average volume of 2,285,030. The firm has a 50-day moving average of $35.22 and a two-hundred day moving average of $34.68. Lincoln National Corporation has a 12-month low of $27.58 and a 12-month high of $41.09. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.67. The firm has a market cap of $7.68 billion, a P/E ratio of 7.07, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, beating 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 business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.65 billion. During the same quarter in the prior year, the company posted $1.87 EPS. Sell-side analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. Lincoln National's dividend payout ratio is 31.41%.

Insider Activity

In other news, EVP Sean Woodroffe sold 43,622 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $32.78, for a total value of $1,429,929.16. Following the completion of the sale, the executive vice president owned 154,102 shares of the company's stock, valued at $5,051,463.56. This represents a 22.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction that occurred on Thursday, August 7th. The shares were 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 owned 123,815 shares of the company's stock, valued at $4,864,691.35. This trade represents a 3.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,697 shares of company stock valued at $1,959,862 in the last 90 days. Company insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Cfra Research upgraded shares of Lincoln National to a "hold" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a report on Tuesday, July 8th. Wells Fargo & Company reiterated a "positive" rating on shares of Lincoln National in a report on Tuesday, August 5th. Finally, Piper Sandler cut their price objective on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Lincoln National presently has an average rating of "Hold" and an average price target of $39.22.

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.