Matisse Capital Has $420,000 Holdings in Lincoln National Co. (NYSE:LNC)

Matisse Capital trimmed its holdings in Lincoln National Co. (NYSE:LNC) by 18.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,500 shares of the financial services provider’s stock after selling 3,000 shares during the period. Matisse Capital’s holdings in Lincoln National were worth $420,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Lincoln National during the fourth quarter worth $54,026,000. Principal Financial Group Inc. raised its holdings in Lincoln National by 59.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after acquiring an additional 1,147,896 shares during the period. Vanguard Group Inc. lifted its position in Lincoln National by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 21,688,670 shares of the financial services provider’s stock worth $584,943,000 after acquiring an additional 1,094,789 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Lincoln National during the first quarter worth approximately $28,649,000. Finally, Algebris UK Ltd grew its position in shares of Lincoln National by 122.5% in the first quarter. Algebris UK Ltd now owns 861,259 shares of the financial services provider’s stock valued at $25,582,000 after purchasing an additional 474,171 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Trading Down 0.2 %

Shares of NYSE:LNC traded down $0.05 during trading on Friday, reaching $32.10. The stock had a trading volume of 1,425,065 shares, compared to its average volume of 1,672,501. Lincoln National Co. has a 52 week low of $20.85 and a 52 week high of $36.46. The firm’s fifty day moving average is $31.46 and its 200 day moving average is $30.09. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of 4.39, a P/E/G ratio of 0.29 and a beta of 1.84. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.26 and a current ratio of 0.27.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm posted $2.02 earnings per share. As a group, equities analysts forecast that Lincoln National Co. will post 5.83 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s payout ratio is 24.62%.

Wall Street Analysts Forecast Growth

LNC has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research note on Tuesday, July 2nd. Bank of America decreased their price target on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Morgan Stanley dropped their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Jefferies Financial Group boosted their price target on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Lincoln National presently has a consensus rating of “Hold” and an average price target of $32.40.

About Lincoln National

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.