Hexagon Capital Partners LLC Has $103,000 Stock Holdings in Lincoln National Co. (NYSE:LNC)

Hexagon Capital Partners LLC trimmed its position in Lincoln National Co. (NYSE:LNC) by 24.9% during the first quarter, HoldingsChannel.com reports. The fund owned 3,240 shares of the financial services provider’s stock after selling 1,074 shares during the period. Hexagon Capital Partners LLC’s holdings in Lincoln National were worth $103,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LNC. Norges Bank acquired a new stake in shares of Lincoln National in the 4th quarter valued at approximately $54,026,000. Jacobs Levy Equity Management Inc. raised its position in shares of Lincoln National by 53.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,157,195 shares of the financial services provider’s stock valued at $77,951,000 after acquiring an additional 1,098,532 shares during the period. Vanguard Group Inc. raised its position in shares of Lincoln National by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 21,688,670 shares of the financial services provider’s stock valued at $584,943,000 after acquiring an additional 1,094,789 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Lincoln National during the 4th quarter worth approximately $19,350,000. Finally, International Assets Investment Management LLC lifted its stake in Lincoln National by 2,549.8% in the fourth quarter. International Assets Investment Management LLC now owns 719,801 shares of the financial services provider’s stock valued at $19,413,000 after buying an additional 692,637 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Sean Woodroffe sold 55,127 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total value of $1,795,486.39. Following the completion of the sale, the executive vice president now owns 198,255 shares of the company’s stock, valued at approximately $6,457,165.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LNC shares. Keefe, Bruyette & Woods raised their price objective on shares of Lincoln National from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. upped their price objective on Lincoln National from $26.00 to $29.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company dropped their target price on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Piper Sandler upped their price target on Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Lincoln National has an average rating of “Hold” and an average price target of $30.70.

Lincoln National Stock Up 0.7 %

Shares of NYSE LNC traded up $0.23 during trading hours on Monday, hitting $31.33. The company had a trading volume of 1,196,272 shares, compared to its average volume of 1,789,011. The stock has a market capitalization of $5.33 billion, a P/E ratio of 4.31, a price-to-earnings-growth ratio of 0.24 and a beta of 1.84. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. Lincoln National Co. has a 1-year low of $20.85 and a 1-year high of $33.33. The firm’s 50 day moving average is $30.59 and its 200-day moving average is $28.85.

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 company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.64 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. On average, analysts expect that Lincoln National Co. will post 5.98 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Wednesday, July 10th. Lincoln National’s payout ratio is presently 24.62%.

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.