California State Teachers Retirement System Has $7.04 Million Stake in Lincoln National Corporation $LNC

Key Points

• California State Teachers Retirement System increased its Lincoln National stake by 23.6% in the first quarter to 198,336 shares valued at approximately $7.04 million. Institutional investors collectively own 72.81% of LNC.
• Lincoln National reported quarterly EPS of $2.24, exceeding the $1.96 consensus estimate, while revenue rose 12.3% year over year to $4.93 billion. The company also maintains a quarterly dividend of $0.45 per share, yielding about 3.8% annually.
• Analyst sentiment remains mixed, with seven Buy, six Hold, and two Sell ratings; the consensus rating is Hold with an average price target of $46.43, compared with the stock’s reported price of $46.90.

California State Teachers Retirement System raised its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 23.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 198,336 shares of the financial services provider's stock after purchasing an additional 37,812 shares during the period. California State Teachers Retirement System owned 0.10% of Lincoln National worth $7,041,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Lincoln National by 9.0% during the first quarter. The Manufacturers Life Insurance Company now owns 42,028 shares of the financial services provider's stock worth $1,492,000 after acquiring an additional 3,478 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Lincoln National by 223.2% in the first quarter. Quantinno Capital Management LP now owns 583,257 shares of the financial services provider's stock valued at $20,706,000 after acquiring an additional 402,783 shares during the last quarter. SummitTX Capital L.P. boosted its holdings in Lincoln National by 49.1% in the first quarter. SummitTX Capital L.P. now owns 83,181 shares of the financial services provider's stock valued at $2,953,000 after acquiring an additional 27,376 shares during the last quarter. Entropy Technologies LP acquired a new stake in Lincoln National during the 1st quarter valued at approximately $2,012,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Lincoln National by 509.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 683,040 shares of the financial services provider's stock worth $24,248,000 after purchasing an additional 570,884 shares during the last quarter. Institutional investors own 72.81% of the company's stock.

Lincoln National Stock Down 0.2%

LNC stock opened at $46.90 on Thursday. The firm has a market capitalization of $8.98 billion, a PE ratio of 4.06, a P/E/G ratio of 1.69 and a beta of 1.15. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62. Lincoln National Corporation has a twelve month low of $32.18 and a twelve month high of $47.67. The stock's 50 day moving average is $38.89 and its 200-day moving average is $37.53.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.28. Lincoln National had a return on equity of 17.35% and a net margin of 12.21%.The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the firm posted $2.36 EPS. Lincoln National's quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Lincoln National Corporation will post 7.82 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, July 10th. Lincoln National's dividend payout ratio (DPR) is presently 15.60%.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP Craigt T. Beazer sold 30,000 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the sale, the executive vice president directly owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. This represents a 22.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.03% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on LNC. UBS Group upped their price objective on shares of Lincoln National from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Mizuho lifted their target price on shares of Lincoln National from $51.00 to $53.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. TD Cowen boosted their target price on shares of Lincoln National from $37.00 to $42.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price target on shares of Lincoln National from $46.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company increased their price target on Lincoln National from $44.00 to $47.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $46.43.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

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