Sage Rhino Capital LLC Acquires 378 Shares of Lincoln National Corporation $LNC

Sage Rhino Capital LLC raised its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,224 shares of the financial services provider’s stock after purchasing an additional 378 shares during the quarter. Sage Rhino Capital LLC’s holdings in Lincoln National were worth $285,000 at the end of the most recent reporting period.

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

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the company’s 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 approximately $4,864,691.35. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Wells Fargo & Company restated a “positive” rating on shares of Lincoln National in a research note on Tuesday, August 5th. Wolfe Research upgraded Lincoln National to a “strong sell” rating in a research report on Tuesday, September 16th. National Bankshares set a $41.00 target price on Lincoln National in a report on Monday, August 18th. Finally, Cfra Research raised shares of Lincoln National to a “hold” rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.45.

Lincoln National Price Performance

Shares of NYSE LNC opened at $40.61 on Friday. The business has a fifty day moving average price of $39.80 and a two-hundred day moving average price of $35.64. The stock has a market capitalization of $7.70 billion, a PE ratio of 7.09, a P/E/G ratio of 0.55 and a beta of 1.48. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $43.66.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the firm posted $1.87 EPS. As a group, equities analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

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 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National’s dividend payout ratio (DPR) is currently 31.41%.

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.