Poplar Forest Capital LLC Cuts Position in Lincoln National Co. (NYSE:LNC)

Poplar Forest Capital LLC decreased its stake in Lincoln National Co. (NYSE:LNC) by 7.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 969,691 shares of the financial services provider’s stock after selling 72,665 shares during the period. Lincoln National accounts for 4.5% of Poplar Forest Capital LLC’s portfolio, making the stock its 6th largest position. Poplar Forest Capital LLC owned approximately 0.48% of Lincoln National worth $62,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Lincoln National by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock worth $148,472,000 after purchasing an additional 197,294 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Lincoln National by 0.7% in the 1st quarter. Northern Trust Corp now owns 2,861,904 shares of the financial services provider’s stock worth $167,994,000 after purchasing an additional 18,485 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Lincoln National by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,216,834 shares of the financial services provider’s stock worth $113,748,000 after purchasing an additional 57,696 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Lincoln National by 20.9% in the 1st quarter. Acadian Asset Management LLC now owns 2,072,385 shares of the financial services provider’s stock worth $121,650,000 after purchasing an additional 357,561 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Lincoln National by 5.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,249,112 shares of the financial services provider’s stock worth $73,323,000 after purchasing an additional 61,433 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

In related news, CAO Christine A. Janofsky sold 7,928 shares of the firm’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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lisa Buckingham sold 8,500 shares of Lincoln National stock in a transaction 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 sold 28,166 shares of company stock worth $1,785,211. 1.50% of the stock is owned by insiders.

Several brokerages recently issued reports on LNC. Barclays set a $69.00 price target on Lincoln National and gave the stock a “buy” rating in a report on Monday, August 12th. Wells Fargo & Co reissued a “hold” rating and issued a $69.00 price target on shares of Lincoln National in a report on Wednesday, July 31st. ValuEngine downgraded Lincoln National from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Goldman Sachs Group raised Lincoln National from a “neutral” rating to a “buy” rating and raised their price target for the stock from $65.00 to $77.00 in a report on Tuesday, June 25th. Finally, Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $75.00.

LNC traded up $1.79 during trading hours on Friday, hitting $53.49. The company’s stock had a trading volume of 1,861,800 shares, compared to its average volume of 1,735,638. Lincoln National Co. has a fifty-two week low of $48.07 and a fifty-two week high of $71.27. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $10.35 billion, a PE ratio of 6.31, a PEG ratio of 0.62 and a beta of 1.91. The company has a 50-day simple moving average of $62.75 and a 200 day simple moving average of $62.65.

Lincoln National (NYSE:LNC) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $2.36 EPS for the quarter, beating the consensus estimate of $2.32 by $0.04. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period last year, the firm earned $2.02 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Research analysts expect that Lincoln National Co. will post 9.3 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, October 9th. Lincoln National’s dividend payout ratio is currently 17.45%.

Lincoln National 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 Annuities segment offers variable, fixed, and indexed variable annuities.

Further Reading: Lock-Up Period Expiration

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

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