Interval Partners LP Acquires Shares of 311,232 Lincoln National Co. (NYSE:LNC)

Interval Partners LP bought a new position in shares of Lincoln National Co. (NYSE:LNC) in the 1st quarter, HoldingsChannel reports. The fund bought 311,232 shares of the financial services provider’s stock, valued at approximately $9,938,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in Lincoln National during the 1st quarter worth approximately $25,000. Brown Brothers Harriman & Co. purchased a new position in shares of Lincoln National during the fourth quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new stake in Lincoln National in the 4th quarter valued at $35,000. FinTrust Capital Advisors LLC bought a new position in Lincoln National during the 4th quarter valued at $38,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Lincoln National by 249.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 873 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Stock Performance

Shares of NYSE LNC traded up $0.50 during trading on Tuesday, reaching $33.59. 1,521,547 shares of the stock traded hands, compared to its average volume of 1,703,161. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market capitalization of $5.71 billion, a P/E ratio of 4.60, a price-to-earnings-growth ratio of 0.28 and a beta of 1.84. Lincoln National Co. has a 52-week low of $20.85 and a 52-week high of $33.76. The company has a 50-day moving average of $31.99 and a 200-day moving average of $29.56.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.10 by $0.27. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. Analysts forecast that Lincoln National Co. will post 5.83 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.36%. Lincoln National’s dividend payout ratio is currently 24.62%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LNC. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Bank of America cut their target price on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Piper Sandler increased their price target on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Evercore ISI boosted their price objective on Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company decreased their target price on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Lincoln National currently has an average rating of “Hold” and an average target price of $31.18.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 55,127 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the sale, the executive vice president now directly owns 198,255 shares in the company, valued at approximately $6,457,165.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.