California State Teachers Retirement System Has $28.92 Million Stake in Lincoln National Corporation (LNC)

California State Teachers Retirement System reduced its stake in Lincoln National Corporation (NYSE:LNC) by 11.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 427,958 shares of the financial services provider’s stock after selling 57,594 shares during the period. California State Teachers Retirement System owned approximately 0.19% of Lincoln National Corporation worth $28,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in LNC. BlackRock Inc. grew its stake in shares of Lincoln National Corporation by 2,922.6% in the 1st quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock valued at $1,205,509,000 after purchasing an additional 17,809,394 shares during the period. Vanguard Group Inc. grew its stake in shares of Lincoln National Corporation by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock valued at $1,497,782,000 after purchasing an additional 1,215,192 shares during the period. Janus Henderson Group PLC grew its stake in shares of Lincoln National Corporation by 3,936.0% in the 2nd quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock valued at $80,862,000 after purchasing an additional 1,166,893 shares during the period. Teachers Advisors LLC grew its stake in shares of Lincoln National Corporation by 158.6% in the 1st quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock valued at $105,528,000 after purchasing an additional 988,753 shares during the period. Finally, Janus Capital Management LLC grew its stake in shares of Lincoln National Corporation by 3,586.0% in the 1st quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock valued at $64,817,000 after purchasing an additional 963,456 shares during the period. Institutional investors own 79.85% of the company’s stock.

Lincoln National Corporation (LNC) traded up 0.03% on Friday, reaching $74.87. The company’s stock had a trading volume of 1,013,550 shares. Lincoln National Corporation has a 12 month low of $47.71 and a 12 month high of $76.10. The firm’s 50 day moving average is $71.15 and its 200-day moving average is $68.69. The firm has a market cap of $16.58 billion, a P/E ratio of 11.41 and a beta of 1.99.

Lincoln National Corporation (NYSE:LNC) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 earnings per share. On average, equities research analysts anticipate that Lincoln National Corporation will post $7.49 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.55%. Lincoln National Corporation’s payout ratio is presently 17.79%.

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Several equities research analysts have recently weighed in on LNC shares. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Bank of America Corporation set a $78.00 target price on Lincoln National Corporation in a report on Tuesday, July 4th. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a report on Tuesday, July 11th. BidaskClub downgraded Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Lincoln National Corporation presently has an average rating of “Hold” and a consensus price target of $77.11.

Lincoln National Corporation Profile

Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.

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

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