Lincoln National Co. (NYSE:LNC) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in Lincoln National Co. (NYSE:LNC - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 406,331 shares of the financial services provider's stock after selling 11,327 shares during the period. Rhumbline Advisers owned approximately 0.24% of Lincoln National worth $14,591,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. M Holdings Securities Inc. acquired a new position in Lincoln National in the 4th quarter valued at about $29,000. Kapitalo Investimentos Ltda acquired a new position in Lincoln National in the 4th quarter valued at about $32,000. Headlands Technologies LLC acquired a new position in Lincoln National in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Lincoln National during the 4th quarter worth approximately $36,000. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Lincoln National by 182.2% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock worth $40,000 after purchasing an additional 807 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Lincoln National from $36.00 to $31.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. 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. Wall Street Zen raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday. Piper Sandler cut their price target on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, Morgan Stanley boosted their target price on shares of Lincoln National from $32.00 to $38.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $36.82.

Lincoln National Trading Down 0.8%

LNC stock traded down $0.25 during mid-day trading on Wednesday, reaching $33.07. 1,155,071 shares of the stock traded hands, compared to its average volume of 1,626,143. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National Co. has a one year low of $27.58 and a one year high of $39.85. The stock has a market capitalization of $5.64 billion, a PE ratio of 1.80, a PEG ratio of 0.30 and a beta of 1.40. The business has a 50-day moving average price of $32.31 and a two-hundred day moving average price of $33.88.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.71 billion. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. The company's quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. Equities research analysts expect that Lincoln National Co. will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Thursday, July 10th. Lincoln National's dividend payout ratio (DPR) is 25.57%.

Insider Activity at Lincoln National

In related news, EVP Brian Kroll sold 10,075 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the transaction, the executive vice president now directly owns 48,743 shares of the company's stock, valued at $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sean Woodroffe sold 43,622 shares of the business's 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 now owns 154,102 shares of the company's stock, valued at approximately $5,051,463.56. This represents a 22.06% decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

Lincoln National 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.