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

AlphaQuest LLC lowered its position in shares of Lincoln National Corporation (NYSE:LNC) by 39.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,487 shares of the financial services provider’s stock after selling 16,566 shares during the period. AlphaQuest LLC’s holdings in Lincoln National were worth $882,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ethic Inc. lifted its stake in Lincoln National by 106.9% during the second quarter. Ethic Inc. now owns 25,640 shares of the financial services provider’s stock worth $886,000 after purchasing an additional 13,248 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Lincoln National during the second quarter worth about $2,858,000. Huntleigh Advisors Inc. lifted its stake in Lincoln National by 1.2% during the second quarter. Huntleigh Advisors Inc. now owns 40,098 shares of the financial services provider’s stock worth $1,387,000 after purchasing an additional 494 shares during the last quarter. Oxbow Advisors LLC bought a new stake in Lincoln National during the second quarter worth about $6,590,000. Finally, Bayforest Capital Ltd bought a new stake in Lincoln National during the second quarter worth about $186,000. Institutional investors own 72.81% of the company’s stock.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares in the company, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.

Lincoln National Stock Up 1.6%

Shares of NYSE:LNC opened at $39.96 on Monday. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $43.66. The company has a market cap of $7.58 billion, a PE ratio of 6.97, a P/E/G ratio of 0.50 and a beta of 1.43. 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 stock’s 50-day moving average is $40.77 and its 200 day moving average is $36.32.

Lincoln National (NYSE:LNC) last posted its 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 firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the business earned $1.87 EPS. Sell-side analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current 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 dividend of $0.45 per share. The ex-dividend date is Friday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. Lincoln National’s dividend payout ratio is 31.41%.

Wall Street Analyst Weigh In

LNC has been the topic of several analyst reports. Wolfe Research upgraded Lincoln National to a “strong sell” rating in a report on Tuesday, September 16th. Evercore ISI lifted their price objective on Lincoln National from $45.00 to $46.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Piper Sandler reiterated a “neutral” rating and issued a $42.00 price objective on shares of Lincoln National in a report on Tuesday, October 7th. Wall Street Zen upgraded Lincoln National from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Barclays lifted their price objective on Lincoln National from $42.00 to $46.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $43.09.

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.