Lincoln National Co. (NYSE:LNC) Shares Sold by California State Teachers Retirement System

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California State Teachers Retirement System trimmed its stake in shares of Lincoln National Co. (NYSE:LNC) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 338,271 shares of the financial services provider’s stock after selling 1,690 shares during the quarter. California State Teachers Retirement System’s holdings in Lincoln National were worth $20,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of LNC. Nuveen Asset Management LLC lifted its position in Lincoln National by 653.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,770,198 shares of the financial services provider’s stock worth $178,540,000 after acquiring an additional 2,402,681 shares during the period. AQR Capital Management LLC lifted its position in Lincoln National by 97.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,733,045 shares of the financial services provider’s stock worth $110,638,000 after acquiring an additional 853,975 shares during the period. Invesco Ltd. lifted its position in Lincoln National by 59.2% during the 2nd quarter. Invesco Ltd. now owns 2,153,778 shares of the financial services provider’s stock worth $138,812,000 after acquiring an additional 800,628 shares during the period. Man Group plc lifted its position in Lincoln National by 44.0% during the 2nd quarter. Man Group plc now owns 2,137,521 shares of the financial services provider’s stock worth $137,764,000 after acquiring an additional 652,977 shares during the period. Finally, Scout Investments Inc. lifted its position in Lincoln National by 135.6% during the 3rd quarter. Scout Investments Inc. now owns 709,640 shares of the financial services provider’s stock worth $42,805,000 after acquiring an additional 408,431 shares during the period. 80.36% of the stock is owned by institutional investors.

LNC has been the subject of a number of recent research reports. TheStreet cut Lincoln National from a “b-” rating to a “c” rating in a research report on Wednesday, October 30th. Citigroup decreased their price objective on Lincoln National from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, September 13th. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Barclays set a $69.00 price target on Lincoln National and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Wells Fargo & Co reduced their price target on Lincoln National from $69.00 to $65.00 and set a “market perform” rating for the company in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $70.63.

LNC opened at $59.05 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.21 and a quick ratio of 0.21. The business has a 50 day simple moving average of $59.39 and a 200-day simple moving average of $60.37. The stock has a market capitalization of $11.79 billion, a P/E ratio of 6.96, a P/E/G ratio of 1.00 and a beta of 1.97. Lincoln National Co. has a 12 month low of $48.07 and a 12 month high of $67.52.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported ($0.25) EPS for the quarter, missing the consensus estimate of $2.41 by ($2.66). The business had revenue of $4.70 billion during the quarter, compared to analyst estimates of $4.47 billion. Lincoln National had a net margin of 4.82% and a return on equity of 10.64%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.34 earnings per share. Research analysts anticipate that Lincoln National Co. will post 6.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 1st. Investors of record on Friday, January 10th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.71%. Lincoln National’s payout ratio is currently 17.45%.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.

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Institutional Ownership by Quarter for Lincoln National (NYSE:LNC)

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