Lincoln National Co. (LNC) Holdings Trimmed by California State Teachers Retirement System
California State Teachers Retirement System cut its stake in shares of Lincoln National Co. (NYSE:LNC) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 366,123 shares of the financial services provider’s stock after selling 10,694 shares during the period. California State Teachers Retirement System’s holdings in Lincoln National were worth $18,786,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of LNC. Bach Investment Advisors Ltd bought a new stake in shares of Lincoln National during the 4th quarter worth $371,000. Crossmark Global Holdings Inc. raised its stake in shares of Lincoln National by 29.5% during the 4th quarter. Crossmark Global Holdings Inc. now owns 37,880 shares of the financial services provider’s stock worth $1,944,000 after purchasing an additional 8,639 shares during the period. Royal London Asset Management Ltd. raised its stake in shares of Lincoln National by 22.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 77,589 shares of the financial services provider’s stock worth $3,957,000 after purchasing an additional 14,277 shares during the period. Man Group plc raised its stake in shares of Lincoln National by 34.1% during the 3rd quarter. Man Group plc now owns 544,460 shares of the financial services provider’s stock worth $36,838,000 after purchasing an additional 138,399 shares during the period. Finally, CAPROCK Group Inc. raised its stake in shares of Lincoln National by 7.0% during the 4th quarter. CAPROCK Group Inc. now owns 5,901 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 384 shares during the period. Institutional investors and hedge funds own 78.96% of the company’s stock.
LNC stock opened at $62.72 on Friday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.41. The stock has a market cap of $12.81 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 0.74 and a beta of 1.93. Lincoln National Co. has a twelve month low of $48.07 and a twelve month high of $78.35.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, April 9th. Lincoln National’s payout ratio is presently 17.45%.
Several equities research analysts recently weighed in on LNC shares. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Monday, December 10th. Wells Fargo & Co started coverage on Lincoln National in a report on Tuesday, January 8th. They issued a “market perform” rating and a $63.00 price objective for the company. Finally, ValuEngine lowered Lincoln National from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $74.69.
In other Lincoln National news, CEO Dennis R. Glass sold 10,000 shares of Lincoln National stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $60.49, for a total transaction of $604,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jamie Ohl sold 7,263 shares of Lincoln National stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $61.70, for a total value of $448,127.10. Following the transaction, the executive vice president now directly owns 23,159 shares of the company’s stock, valued at approximately $1,428,910.30. The disclosure for this sale can be found here. 6.31% of the stock is owned by insiders.
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Lincoln National Profile
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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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