Seven Eight Capital LP Trims Stock Holdings in Lincoln National Co. (NYSE:LNC)

Seven Eight Capital LP lowered its position in Lincoln National Co. (NYSE:LNC) by 29.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,607 shares of the financial services provider’s stock after selling 25,978 shares during the quarter. Seven Eight Capital LP’s holdings in Lincoln National were worth $1,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in Lincoln National in the first quarter valued at approximately $25,000. Whittier Trust Co. lifted its stake in Lincoln National by 106.7% in the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after buying an additional 431 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Lincoln National in the fourth quarter valued at approximately $27,000. Adirondack Trust Co. acquired a new position in shares of Lincoln National in the second quarter valued at approximately $31,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Lincoln National by 249.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 873 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Trading Up 1.2 %

Shares of LNC stock opened at $30.31 on Thursday. The business’s fifty day moving average price is $31.16 and its 200 day moving average price is $30.37. Lincoln National Co. has a 1-year low of $20.85 and a 1-year high of $36.46. The firm has a market capitalization of $5.15 billion, a PE ratio of 4.15, a P/E/G ratio of 0.29 and a beta of 1.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.07. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same quarter in the prior year, the company earned $2.02 earnings per share. As a group, sell-side analysts forecast that Lincoln National Co. will post 5.74 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.94%. The ex-dividend date is Thursday, October 10th. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Morgan Stanley dropped their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Bank of America dropped their target price on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Barclays assumed coverage on Lincoln National in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 target price on the stock. Jefferies Financial Group boosted their target price on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Piper Sandler boosted their target price on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.64.

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.