Hsbc Holdings PLC Decreases Stake in Lincoln National Corporation $LNC

Hsbc Holdings PLC lessened its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 6.7% during the first quarter, HoldingsChannel reports. The fund owned 2,080,461 shares of the financial services provider’s stock after selling 149,484 shares during the period. Hsbc Holdings PLC’s holdings in Lincoln National were worth $74,234,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LNC. Janney Montgomery Scott LLC boosted its position in shares of Lincoln National by 22.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider’s stock worth $6,642,000 after purchasing an additional 33,644 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Lincoln National by 34.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 204,010 shares of the financial services provider’s stock valued at $7,346,000 after purchasing an additional 51,823 shares during the period. Integrated Advisors Network LLC purchased a new stake in Lincoln National during the first quarter worth about $293,000. DMC Group LLC boosted its holdings in Lincoln National by 47.1% during the first quarter. DMC Group LLC now owns 25,749 shares of the financial services provider’s stock worth $925,000 after buying an additional 8,250 shares in the last quarter. Finally, Smith Salley Wealth Management acquired a new position in Lincoln National during the first quarter worth about $268,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction dated 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 directly owned 123,815 shares in the company, valued at $4,864,691.35. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction of $1,429,929.16. Following the completion of the transaction, the executive vice president directly owned 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. Insiders have sold 58,697 shares of company stock valued at $1,959,862 in the last ninety days. Insiders own 0.51% of the company’s stock.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $40.8250 on Thursday. The business’s fifty day moving average price is $35.65 and its two-hundred day moving average price is $34.80. The stock has a market cap of $7.74 billion, a PE ratio of 7.12, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. Lincoln National Corporation has a one year low of $27.58 and a one year high of $41.08.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the firm posted $1.87 earnings per share. On average, analysts forecast that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders 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 yield of 4.4%. The ex-dividend date is Friday, October 10th. Lincoln National’s dividend payout ratio is 31.41%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LNC. Barclays lifted their price target on shares of Lincoln National from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. Morgan Stanley raised their price objective on Lincoln National from $38.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday. Piper Sandler reduced their price objective on Lincoln National from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, May 9th. National Bankshares set a $41.00 target price on Lincoln National in a report on Monday. Finally, Keefe, Bruyette & Woods raised their price target on Lincoln National from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.70.

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.