Cubist Systematic Strategies LLC cut its stake in Lincoln National Co. (NYSE:LNC) by 29.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,570 shares of the financial services provider’s stock after selling 4,466 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Lincoln National were worth $658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd purchased a new position in shares of Lincoln National in the first quarter valued at $111,000. CX Institutional purchased a new position in shares of Lincoln National in the second quarter valued at $117,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Lincoln National in the second quarter valued at $128,000. Whittier Trust Co. grew its position in shares of Lincoln National by 38.7% in the second quarter. Whittier Trust Co. now owns 3,288 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 917 shares in the last quarter. Finally, Mariner LLC purchased a new position in shares of Lincoln National in the first quarter valued at $212,000. Institutional investors own 80.99% of the company’s stock.

Lincoln National stock opened at $68.93 on Tuesday. Lincoln National Co. has a 52 week low of $61.18 and a 52 week high of $86.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.19 and a quick ratio of 0.19. The stock has a market cap of $15.24 billion, a P/E ratio of 8.85 and a beta of 1.95.

Lincoln National (NYSE:LNC) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $2.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.10 by ($0.08). Lincoln National had a return on equity of 11.04% and a net margin of 13.31%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. Lincoln National’s quarterly revenue was up 12.4% compared to the same quarter last year. equities research analysts predict that Lincoln National Co. will post 8.33 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, October 9th. Lincoln National’s payout ratio is 16.94%.

Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. B. Riley lifted their price target on Lincoln National from $79.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, August 7th. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 26th. Barclays reduced their price target on Lincoln National from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Monday, July 9th. Finally, Goldman Sachs Group upgraded Lincoln National from a “sell” rating to a “neutral” rating and lifted their price target for the company from $69.00 to $70.00 in a research report on Monday, September 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Lincoln National presently has a consensus rating of “Hold” and an average price target of $80.77.

Lincoln National Company Profile

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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.

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

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