California Public Employees Retirement System reduced its stake in Lincoln National Corporation (NYSE:LNC) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 715,590 shares of the financial services provider’s stock after selling 34,200 shares during the period. California Public Employees Retirement System owned 0.32% of Lincoln National Corporation worth $48,360,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LNC. Azimuth Capital Management LLC boosted its stake in shares of Lincoln National Corporation by 0.3% during the first quarter. Azimuth Capital Management LLC now owns 7,185 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 25 shares in the last quarter. Stratford Consulting LLC boosted its stake in shares of Lincoln National Corporation by 0.4% during the second quarter. Stratford Consulting LLC now owns 6,432 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 27 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Lincoln National Corporation by 0.4% during the second quarter. Savant Capital LLC now owns 6,847 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 30 shares in the last quarter. Financial Architects Inc boosted its stake in shares of Lincoln National Corporation by 2.3% during the second quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 68 shares in the last quarter. Finally, Intrust Bank NA boosted its stake in shares of Lincoln National Corporation by 0.7% during the second quarter. Intrust Bank NA now owns 10,550 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.

A number of research firms have recently issued reports on LNC. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Wednesday, August 2nd. Royal Bank Of Canada increased their price objective on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Finally, Barclays PLC increased their price objective on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Lincoln National Corporation currently has an average rating of “Hold” and an average target price of $74.50.

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Shares of Lincoln National Corporation (LNC) opened at 72.88 on Friday. The stock has a market cap of $16.14 billion, a PE ratio of 11.10 and a beta of 1.98. Lincoln National Corporation has a 52-week low of $44.74 and a 52-week high of $75.78. The company’s 50-day moving average is $69.75 and its 200-day moving average is $67.84.

Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the previous year, the business posted $1.56 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Equities analysts anticipate that Lincoln National Corporation will post $7.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 17.79%.

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. 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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