Strs Ohio cut its stake in shares of Lincoln National Corporation (NYSE:LNC) by 54.2% during the third quarter, Holdings Channel reports. The firm owned 116,057 shares of the company’s stock after selling 137,575 shares during the period. Strs Ohio’s holdings in Lincoln National Corporation were worth $5,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its position in Lincoln National Corporation by 4.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 178,838 shares of the company’s stock valued at $6,934,000 after buying an additional 7,743 shares during the period. Oakbrook Investments LLC boosted its position in Lincoln National Corporation by 5.7% in the second quarter. Oakbrook Investments LLC now owns 29,600 shares of the company’s stock valued at $1,148,000 after buying an additional 1,600 shares during the period. Shell Asset Management Co. boosted its position in Lincoln National Corporation by 42.0% in the second quarter. Shell Asset Management Co. now owns 17,891 shares of the company’s stock valued at $694,000 after buying an additional 5,293 shares during the period. Bank of Montreal Can bought a new position in Lincoln National Corporation during the second quarter valued at about $84,522,000. Finally, PGGM Investments boosted its position in Lincoln National Corporation by 0.6% in the second quarter. PGGM Investments now owns 173,799 shares of the company’s stock valued at $6,738,000 after buying an additional 1,095 shares during the period. Institutional investors and hedge funds own 77.86% of the company’s stock.

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

Lincoln National Corporation (NYSE:LNC) opened at 67.21 on Friday. Lincoln National Corporation has a 1-year low of $30.39 and a 1-year high of $69.49. The firm has a 50-day moving average of $66.56 and a 200 day moving average of $52.14. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 12.70 and a beta of 2.11.

Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.61 by $0.28. Lincoln National Corporation had a net margin of 9.63% and a return on equity of 9.89%. The company earned $3.53 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the company earned $1.65 EPS. Lincoln National Corporation’s revenue was down 5.5% on a year-over-year basis. Analysts expect that Lincoln National Corporation will post $6.39 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be given a dividend of $0.29 per share. This is a boost from Lincoln National Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.73%. Lincoln National Corporation’s payout ratio is currently 21.85%.

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Several research analysts have recently issued reports on LNC shares. Wells Fargo & Company started coverage on shares of Lincoln National Corporation in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Zacks Investment Research lowered shares of Lincoln National Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Credit Suisse Group assumed coverage on shares of Lincoln National Corporation in a research note on Friday, October 7th. They set a “neutral” rating and a $57.00 target price for the company. FBR & Co increased their target price on shares of Lincoln National Corporation from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, October 18th. Finally, RBC Capital Markets raised shares of Lincoln National Corporation from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $62.00 to $73.00 in a research note on Thursday, December 8th. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $60.07.

In other news, CAO Christine A. Janofsky sold 1,025 shares of Lincoln National Corporation stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $60.11, for a total transaction of $61,612.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dennis R. Glass sold 349,532 shares of Lincoln National Corporation stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $52.01, for a total transaction of $18,179,159.32. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.

About Lincoln National Corporation

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. It 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 in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.

5 Day Chart for NYSE:LNC

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