Parkside Financial Bank & Trust Sells 657 Shares of Lincoln National Co. (NYSE:LNC)

Parkside Financial Bank & Trust decreased its stake in shares of Lincoln National Co. (NYSE:LNC) by 37.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,095 shares of the financial services provider’s stock after selling 657 shares during the period. Parkside Financial Bank & Trust’s holdings in Lincoln National were worth $30,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LNC. Hsbc Holdings PLC boosted its holdings in Lincoln National by 2,107.9% in the 3rd quarter. Hsbc Holdings PLC now owns 4,279,462 shares of the financial services provider’s stock valued at $105,703,000 after purchasing an additional 4,085,637 shares during the period. 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 buying an additional 1,098,532 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Lincoln National by 26.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,960,653 shares of the financial services provider’s stock valued at $48,409,000 after buying an additional 412,312 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Lincoln National by 82.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,758,754 shares of the financial services provider’s stock valued at $43,424,000 after buying an additional 792,900 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Lincoln National by 24.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,468,971 shares of the financial services provider’s stock valued at $36,269,000 after buying an additional 289,733 shares in the last quarter. Institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Performance

LNC stock opened at $27.81 on Friday. The company has a fifty day moving average price of $28.42 and a 200-day moving average price of $26.45. Lincoln National Co. has a 52-week low of $18.50 and a 52-week high of $32.43. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.96.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.13. Lincoln National had a negative net margin of 6.46% and a positive return on equity of 20.81%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $4.44 billion. As a group, equities research analysts forecast that Lincoln National Co. will post 6.47 EPS for the current year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date of this dividend is Tuesday, April 9th. Lincoln National’s dividend payout ratio is presently -36.07%.

Analyst Ratings Changes

Several equities analysts have recently commented on LNC shares. Evercore ISI boosted their target price on shares of Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group boosted their target price on shares of Lincoln National from $29.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Jefferies Financial Group upgraded shares of Lincoln National from an “underperform” rating to a “hold” rating in a research report on Monday, February 12th. TheStreet cut shares of Lincoln National from a “c” rating to a “d+” rating in a research report on Thursday, February 8th. 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 investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.45.

Insider Buying and Selling

In other news, Director Owen Ryan bought 10,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $25.90 per share, with a total value of $259,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $259,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

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.