Xact Kapitalforvaltning AB Sells 3,737 Shares of Lincoln National Co. (NYSE:LNC)

Xact Kapitalforvaltning AB trimmed its position in Lincoln National Co. (NYSE:LNC) by 6.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,975 shares of the financial services provider’s stock after selling 3,737 shares during the period. Xact Kapitalforvaltning AB’s holdings in Lincoln National were worth $2,992,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Northern Oak Wealth Management Inc. bought a new position in Lincoln National during the fourth quarter worth $2,912,000. Abacus Planning Group Inc. bought a new position in Lincoln National during the fourth quarter worth $571,000. Investors Asset Management of Georgia Inc. GA ADV bought a new position in Lincoln National during the first quarter worth $223,000. Globeflex Capital L P bought a new position in Lincoln National during the fourth quarter worth $397,000. Finally, First Trust Advisors LP boosted its position in Lincoln National by 3.2% during the first quarter. First Trust Advisors LP now owns 608,467 shares of the financial services provider’s stock worth $35,717,000 after purchasing an additional 19,131 shares during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.

In related news, CAO Christine A. Janofsky sold 7,928 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.62, for a total value of $496,451.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa Buckingham sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.70, for a total value of $532,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,206 shares of company stock worth $2,920,586. Company insiders own 1.50% of the company’s stock.

A number of research firms have commented on LNC. UBS Group lifted their price objective on shares of Lincoln National from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 9th. Goldman Sachs Group raised Lincoln National from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $77.00 in a report on Tuesday. Zacks Investment Research downgraded Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. set a $92.00 target price on Lincoln National and gave the stock a “buy” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $76.38.

NYSE LNC traded up $1.44 during trading on Friday, hitting $64.45. 1,901,594 shares of the company’s stock were exchanged, compared to its average volume of 1,659,100. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market capitalization of $12.75 billion, a P/E ratio of 7.60, a PEG ratio of 0.75 and a beta of 1.93. Lincoln National Co. has a fifty-two week low of $48.07 and a fifty-two week high of $71.27. The firm’s 50 day moving average price is $63.20.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.08 by $0.06. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Lincoln National had a return on equity of 12.32% and a net margin of 9.02%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.97 earnings per share. On average, equities analysts predict that Lincoln National Co. will post 9.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Tuesday, July 9th. Lincoln National’s dividend payout ratio (DPR) is currently 17.45%.

About Lincoln National

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 variable, fixed, and indexed variable annuities.

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

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