Innealta Capital LLC Acquires New Holdings in Lincoln National Corporation (NYSE:LNC)

Innealta Capital LLC purchased a new stake in Lincoln National Corporation (NYSE:LNC) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,631 shares of the financial services provider’s stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. PFG Investments LLC raised its stake in Lincoln National by 21.0% in the first quarter. PFG Investments LLC now owns 8,887 shares of the financial services provider’s stock valued at $319,000 after buying an additional 1,541 shares during the last quarter. HFG Advisors Inc. raised its stake in Lincoln National by 189.8% in the first quarter. HFG Advisors Inc. now owns 24,226 shares of the financial services provider’s stock valued at $870,000 after buying an additional 15,866 shares during the last quarter. Kercheville Advisors LLC purchased a new stake in Lincoln National in the first quarter valued at about $215,000. Sentry LLC purchased a new position in shares of Lincoln National in the first quarter worth about $226,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Lincoln National by 22.2% in the first quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider’s stock worth $6,642,000 after purchasing an additional 33,644 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Stock Down 0.5%

Shares of LNC stock opened at $33.01 on Friday. The stock has a 50 day moving average of $32.67 and a 200 day moving average of $33.76. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.81. The stock has a market cap of $5.63 billion, a P/E ratio of 4.69, a P/E/G ratio of 0.43 and a beta of 1.40. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $39.85.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.71 billion. During the same period last year, the business earned $0.41 earnings per share. Lincoln National’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts expect that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, July 10th. Lincoln National’s payout ratio is currently 25.57%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LNC. Piper Sandler reduced their price objective on Lincoln National from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Wall Street Zen cut Lincoln National from a “hold” rating to a “sell” rating in a research note on Sunday, June 15th. Barclays raised their price objective on Lincoln National from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. UBS Group raised their price objective on Lincoln National from $32.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company reduced their price objective on Lincoln National from $36.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.82.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 43,622 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the sale, the executive vice president now directly owns 154,102 shares of the company’s stock, valued at approximately $5,051,463.56. This trade represents a 22.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of Lincoln National stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the sale, the executive vice president now directly owns 48,743 shares in the company, valued at $1,613,393.30. This represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by corporate insiders.

Lincoln National 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.