Westhampton Capital LLC Purchases New Shares in Lincoln National Co. (NYSE:LNC)

Westhampton Capital LLC acquired a new position in shares of Lincoln National Co. (NYSE:LNC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,090 shares of the financial services provider's stock, valued at approximately $288,000.

A number of other hedge funds have also recently added to or reduced their stakes in LNC. Blue Trust Inc. grew its stake in shares of Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 905 shares during the last quarter. Larson Financial Group LLC raised its position in Lincoln National by 95.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider's stock worth $34,000 after purchasing an additional 530 shares during the last quarter. Eastern Bank acquired a new position in Lincoln National during the 3rd quarter worth $40,000. Meeder Asset Management Inc. bought a new position in Lincoln National in the 3rd quarter valued at $48,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Lincoln National by 459.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider's stock valued at $66,000 after buying an additional 1,711 shares during the period. Institutional investors own 72.81% of the company's stock.

Lincoln National Price Performance

LNC opened at $35.35 on Thursday. The company has a fifty day simple moving average of $33.00 and a 200 day simple moving average of $32.36. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73. The stock has a market cap of $6.02 billion, a P/E ratio of 25.25, a P/E/G ratio of 0.26 and a beta of 1.78. Lincoln National Co. has a 12 month low of $25.09 and a 12 month high of $36.98.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, topping analysts' consensus estimates of $1.64 by $0.42. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.61 billion. During the same quarter last year, the firm posted $0.23 earnings per share. Lincoln National's revenue was down 2.2% compared to the same quarter last year. On average, research analysts expect that Lincoln National Co. will post 6.97 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.80 annualized dividend and a yield of 5.09%. Lincoln National's dividend payout ratio (DPR) is currently 128.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com raised Lincoln National from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Wells Fargo & Company reduced their target price on shares of Lincoln National from $29.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 14th. Piper Sandler lowered their price target on shares of Lincoln National from $37.00 to $34.00 and set a "neutral" rating for the company in a research report on Wednesday, October 2nd. Barclays lowered their target price on shares of Lincoln National from $38.00 to $36.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Finally, TD Cowen upped their target price on shares of Lincoln National from $34.00 to $37.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Lincoln National presently has an average rating of "Hold" and an average price target of $33.40.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the sale, the executive vice president now owns 99,644 shares of the company's stock, valued at $3,587,184. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.

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