Lincoln National Corporation $LNC Position Boosted by Strs Ohio

Strs Ohio grew its holdings in shares of Lincoln National Corporation (NYSE:LNC) by 13.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,879 shares of the financial services provider’s stock after purchasing an additional 6,957 shares during the period. Strs Ohio’s holdings in Lincoln National were worth $2,072,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in LNC. Teacher Retirement System of Texas boosted its position in shares of Lincoln National by 43.9% during the 1st quarter. Teacher Retirement System of Texas now owns 59,164 shares of the financial services provider’s stock valued at $2,125,000 after purchasing an additional 18,050 shares in the last quarter. Strategic Blueprint LLC boosted its position in shares of Lincoln National by 11.6% during the 1st quarter. Strategic Blueprint LLC now owns 9,968 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 1,033 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Lincoln National by 17.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 116,594 shares of the financial services provider’s stock valued at $4,187,000 after purchasing an additional 17,721 shares in the last quarter. Allworth Financial LP boosted its position in shares of Lincoln National by 12.9% during the 1st quarter. Allworth Financial LP now owns 5,784 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 662 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new position in shares of Lincoln National in the first quarter worth about $348,000. Institutional investors own 72.81% of the company’s stock.

Analyst Ratings Changes

LNC has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Lincoln National from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their target price on shares of Lincoln National from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. National Bankshares set a $44.00 target price on shares of Lincoln National in a report on Monday. Keefe, Bruyette & Woods raised their target price on shares of Lincoln National from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Monday. Finally, Wall Street Zen upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $42.82.

Lincoln National Price Performance

NYSE LNC opened at $40.31 on Wednesday. The company has a 50 day simple moving average of $40.68 and a 200-day simple moving average of $36.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. Lincoln National Corporation has a 52-week low of $27.58 and a 52-week high of $43.66.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.20. The business had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.80 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period in the prior year, the firm earned $2.06 earnings per share. Equities research analysts predict that Lincoln National Corporation will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, October 10th. Lincoln National’s dividend payout ratio (DPR) is presently 16.16%.

Insiders Place Their Bets

In related news, EVP John Christopher Kennedy sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares of the company’s stock, valued at approximately $4,864,691.35. This trade represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.51% of the company’s stock.

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.