SG Americas Securities LLC Sells 17,660 Shares of Lincoln National Corporation $LNC

SG Americas Securities LLC cut its position in shares of Lincoln National Corporation (NYSE:LNC) by 47.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,836 shares of the financial services provider’s stock after selling 17,660 shares during the period. SG Americas Securities LLC’s holdings in Lincoln National were worth $704,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LNC. Evolve Private Wealth LLC grew its stake in shares of Lincoln National by 270.4% in the 1st quarter. Evolve Private Wealth LLC now owns 18,845 shares of the financial services provider’s stock worth $669,000 after buying an additional 13,757 shares in the last quarter. Hsbc Holdings PLC grew its position in Lincoln National by 10.9% in the fourth quarter. Hsbc Holdings PLC now owns 1,360,587 shares of the financial services provider’s stock worth $60,495,000 after acquiring an additional 133,388 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Lincoln National by 66.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,181 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 2,458 shares during the last quarter. Corient Private Wealth LLC raised its position in Lincoln National by 17.3% during the fourth quarter. Corient Private Wealth LLC now owns 47,545 shares of the financial services provider’s stock valued at $2,117,000 after purchasing an additional 7,014 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Lincoln National in the 4th quarter valued at approximately $183,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lincoln National news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the transaction, the executive vice president directly owned 103,906 shares of the company’s stock, valued at $3,579,561.70. This trade represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.03% of the company’s stock.

Lincoln National Stock Performance

NYSE:LNC traded up $0.23 during mid-day trading on Tuesday, hitting $38.62. The company’s stock had a trading volume of 44,635 shares, compared to its average volume of 2,034,022. The business’s fifty day moving average is $36.12 and its two-hundred day moving average is $37.91. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 4.49, a PEG ratio of 2.37 and a beta of 1.17. Lincoln National Corporation has a 1 year low of $32.18 and a 1 year high of $46.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.25 and a quick ratio of 0.25.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the prior year, the firm posted $1.60 EPS. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts anticipate that Lincoln National Corporation will post 7.73 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.7%. Lincoln National’s dividend payout ratio (DPR) is currently 20.88%.

Analyst Ratings Changes

LNC has been the topic of several recent research reports. Wells Fargo & Company increased their price target on Lincoln National from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Bank of America reduced their target price on Lincoln National from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. National Bank Financial set a $40.00 price target on Lincoln National in a research report on Thursday, May 21st. Finally, Barclays raised shares of Lincoln National from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $42.00 to $45.00 in a report on Monday. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lincoln National has an average rating of “Hold” and an average price target of $43.21.

Lincoln National Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.