Virginia Retirement Systems ET AL Sells 6,600 Shares of Lincoln National Co. (NYSE:LNC)

Virginia Retirement Systems ET AL reduced its holdings in Lincoln National Co. (NYSE:LNCGet Rating) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 271,500 shares of the financial services provider’s stock after selling 6,600 shares during the quarter. Virginia Retirement Systems ET AL owned about 0.16% of Lincoln National worth $17,745,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Johnson Financial Group Inc. bought a new stake in shares of Lincoln National in the 4th quarter worth approximately $28,000. Private Capital Group LLC grew its position in shares of Lincoln National by 48.2% in the 1st quarter. Private Capital Group LLC now owns 483 shares of the financial services provider’s stock worth $32,000 after buying an additional 157 shares during the last quarter. Glassman Wealth Services boosted its position in shares of Lincoln National by 136.6% during the fourth quarter. Glassman Wealth Services now owns 504 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 291 shares in the last quarter. Confluence Wealth Services Inc. bought a new stake in shares of Lincoln National during the fourth quarter valued at approximately $36,000. Finally, CVA Family Office LLC bought a new stake in shares of Lincoln National during the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 86.40% of the company’s stock.

Several research firms recently weighed in on LNC. Piper Sandler dropped their price target on Lincoln National from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, May 27th. StockNews.com started coverage on Lincoln National in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley decreased their price target on Lincoln National from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, April 8th. Citigroup started coverage on Lincoln National in a research note on Monday, May 23rd. They issued a “neutral” rating and a $56.00 price target for the company. Finally, Barclays decreased their price target on Lincoln National from $66.00 to $58.00 in a research note on Tuesday, May 10th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.00.

Shares of LNC opened at $47.59 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.45. The business has a 50-day simple moving average of $54.21 and a two-hundred day simple moving average of $63.02. The stock has a market cap of $8.18 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.27 and a beta of 1.91. Lincoln National Co. has a 52 week low of $45.25 and a 52 week high of $77.57.

Lincoln National (NYSE:LNCGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The financial services provider reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.31). The company had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Lincoln National had a return on equity of 7.68% and a net margin of 6.62%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. On average, equities analysts anticipate that Lincoln National Co. will post 9.67 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Monday, July 11th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Friday, July 8th. Lincoln National’s dividend payout ratio (DPR) is 26.47%.

Lincoln National Profile (Get Rating)

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.

Further Reading

Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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