AlphaQuest LLC Sells 16,566 Shares of Lincoln National Corporation $LNC

AlphaQuest LLC reduced its stake in Lincoln National Corporation (NYSE:LNC) by 39.4% during the second quarter, HoldingsChannel.com reports. The firm owned 25,487 shares of the financial services provider’s stock after selling 16,566 shares during the quarter. AlphaQuest LLC’s holdings in Lincoln National were worth $882,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LNC. AQR Capital Management LLC boosted its position in shares of Lincoln National by 84.5% in the 1st quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider’s stock worth $72,039,000 after purchasing an additional 935,225 shares in the last quarter. Millennium Management LLC boosted its position in shares of Lincoln National by 206.6% in the 1st quarter. Millennium Management LLC now owns 1,176,613 shares of the financial services provider’s stock worth $42,252,000 after purchasing an additional 792,907 shares in the last quarter. Nuveen LLC bought a new stake in shares of Lincoln National in the 1st quarter worth approximately $12,645,000. Algebris UK Ltd boosted its position in shares of Lincoln National by 36.6% in the 1st quarter. Algebris UK Ltd now owns 954,824 shares of the financial services provider’s stock worth $31,742,000 after purchasing an additional 256,032 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Lincoln National in the 2nd quarter worth approximately $7,668,000. 72.81% of the stock is owned by institutional investors.

Lincoln National Trading Up 1.6%

NYSE:LNC opened at $39.96 on Monday. 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 firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. Lincoln National Corporation has a one year low of $27.58 and a one year high of $43.66. The business has a fifty day moving average price of $40.77 and a 200-day moving average price of $36.32.

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

Lincoln National Dividend Announcement

The business also recently disclosed 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. This represents a $1.80 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, October 10th. Lincoln National’s dividend payout ratio is 31.41%.

Analyst Ratings Changes

Several research firms recently issued reports on LNC. Barclays upped their price objective on Lincoln National from $42.00 to $46.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Cfra Research raised Lincoln National to a “hold” rating in a research report on Wednesday, August 6th. Piper Sandler reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Lincoln National in a research report on Tuesday, October 7th. Evercore ISI upped their price objective on Lincoln National from $45.00 to $46.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. upped their price objective on Lincoln National from $38.00 to $41.00 and gave the company an “underweight” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $43.09.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the company’s stock in a transaction on Thursday, August 7th. The stock was 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 directly owned 123,815 shares in the company, valued at $4,864,691.35. This represents a 3.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.54% of the stock is owned by company insiders.

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.