Interval Partners LP Increases Position in Lincoln National Co. (NYSE:LNC)

Interval Partners LP lifted its position in Lincoln National Co. (NYSE:LNC) by 153.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,986 shares of the financial services provider’s stock after purchasing an additional 49,670 shares during the period. Interval Partners LP’s holdings in Lincoln National were worth $2,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Lincoln National during the fourth quarter valued at $76,951,000. Hennessy Advisors Inc. purchased a new position in Lincoln National during the fourth quarter valued at $54,189,000. Balyasny Asset Management L.P. grew its stake in Lincoln National by 301.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider’s stock valued at $48,269,000 after acquiring an additional 1,142,759 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Lincoln National by 84.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider’s stock valued at $48,948,000 after acquiring an additional 708,584 shares in the last quarter. Finally, LPL Financial LLC grew its stake in Lincoln National by 190.9% during the fourth quarter. LPL Financial LLC now owns 741,330 shares of the financial services provider’s stock valued at $23,508,000 after acquiring an additional 486,478 shares in the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LNC. Barclays lifted their price objective on shares of Lincoln National from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday. Piper Sandler dropped their price objective on shares of Lincoln National from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday. Keefe, Bruyette & Woods dropped their price objective on shares of Lincoln National from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on shares of 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. Finally, Morgan Stanley dropped their price target on shares of Lincoln National from $42.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Lincoln National presently has a consensus rating of “Hold” and a consensus price target of $36.27.

Lincoln National Stock Down 0.1%

Shares of Lincoln National stock opened at $33.34 on Monday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.80. Lincoln National Co. has a 52-week low of $27.58 and a 52-week high of $39.85. The company has a 50 day moving average of $33.39 and a 200 day moving average of $34.03. The company has a market capitalization of $5.69 billion, a P/E ratio of 1.81, a P/E/G ratio of 0.30 and a beta of 1.42.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.71 billion. Lincoln National had a net margin of 17.76% and a return on equity of 18.47%. Lincoln National’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. As a group, research analysts forecast that Lincoln National Co. will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.40%. Lincoln National’s dividend payout ratio is presently 9.79%.

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.