Interval Partners LP Sells 177,013 Shares of Lincoln National Co. (NYSE:LNC)

Interval Partners LP cut its holdings in shares of Lincoln National Co. (NYSE:LNC) by 56.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 134,219 shares of the financial services provider’s stock after selling 177,013 shares during the period. Interval Partners LP owned approximately 0.08% of Lincoln National worth $4,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Lincoln National by 0.8% in the first quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock worth $697,825,000 after acquiring an additional 166,167 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Lincoln National in the second quarter worth about $142,148,000. Principal Financial Group Inc. lifted its stake in Lincoln National by 59.2% during the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock worth $95,985,000 after purchasing an additional 1,147,896 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lincoln National by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock valued at $87,970,000 after purchasing an additional 348,601 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Lincoln National by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 2,249,725 shares of the financial services provider’s stock worth $69,966,000 after purchasing an additional 31,235 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Stock Performance

LNC opened at $32.01 on Tuesday. The firm has a 50 day moving average of $31.11 and a two-hundred day moving average of $30.51. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82. Lincoln National Co. has a 12-month low of $20.85 and a 12-month high of $36.46. The firm has a market capitalization of $5.44 billion, a PE ratio of 4.38, a P/E/G ratio of 0.29 and a beta of 1.81.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm posted $2.02 EPS. On average, analysts anticipate that Lincoln National Co. will post 5.74 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s payout ratio is 24.62%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LNC shares. Bank of America dropped their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Barclays assumed coverage on Lincoln National in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price target for the company. Morgan Stanley lowered their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Piper Sandler increased their price target on shares of Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. boosted their target price on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. One 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.64.

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.