Teacher Retirement System of Texas Increases Position in Lincoln National Corporation (NYSE:LNC)

Teacher Retirement System of Texas boosted its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 43.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,164 shares of the financial services provider's stock after buying an additional 18,050 shares during the quarter. Teacher Retirement System of Texas' holdings in Lincoln National were worth $2,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. M Holdings Securities Inc. acquired a new position in Lincoln National during the 4th quarter worth about $29,000. Kapitalo Investimentos Ltda bought a new position in shares of Lincoln National in the 4th quarter worth about $32,000. NBC Securities Inc. bought a new position in shares of Lincoln National in the 1st quarter worth about $33,000. Headlands Technologies LLC bought a new position in shares of Lincoln National in the 4th quarter worth about $35,000. Finally, Aster Capital Management DIFC Ltd raised its position in shares of Lincoln National by 182.2% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,250 shares of the financial services provider's stock worth $40,000 after acquiring an additional 807 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Sean Woodroffe sold 43,622 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total value of $1,429,929.16. Following the transaction, the executive vice president owned 154,102 shares in the company, valued at $5,051,463.56. The trade was a 22.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the transaction, the executive vice president owned 48,743 shares in the company, valued at $1,613,393.30. The trade was a 17.13% decrease in their position. The disclosure for this sale can be found here. 0.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group lifted their price objective on Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Morgan Stanley lifted their price objective on Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods lifted their price objective on Lincoln National from $39.00 to $40.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company lifted their price objective on Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, Piper Sandler lowered their price objective on Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, Lincoln National currently has an average rating of "Hold" and an average target price of $38.78.

Lincoln National Stock Up 1.9%

Shares of LNC traded up $0.64 during trading hours on Monday, hitting $34.71. The stock had a trading volume of 1,580,096 shares, compared to its average volume of 1,675,017. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a 50 day simple moving average of $33.62 and a 200-day simple moving average of $33.96. The firm has a market capitalization of $5.92 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39. Lincoln National Corporation has a 1-year low of $27.58 and a 1-year high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.71 billion. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. The firm's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $0.41 EPS. Sell-side analysts predict that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.19%. Lincoln National's dividend payout ratio (DPR) is currently 25.57%.

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.