California State Teachers Retirement System Increases Stake in Lincoln National Co. (NYSE:LNC)

California State Teachers Retirement System increased its position in shares of Lincoln National Co. (NYSE:LNC) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 390,099 shares of the financial services provider’s stock after buying an additional 15,386 shares during the period. California State Teachers Retirement System’s holdings in Lincoln National were worth $24,291,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Lincoln National by 0.4% during the first quarter. BlackRock Inc. now owns 15,128,523 shares of the financial services provider’s stock valued at $942,054,000 after buying an additional 66,604 shares during the period. Lyrical Asset Management LP increased its stake in shares of Lincoln National by 3.1% during the first quarter. Lyrical Asset Management LP now owns 4,937,228 shares of the financial services provider’s stock valued at $307,441,000 after buying an additional 149,662 shares during the period. APG Asset Management N.V. increased its stake in shares of Lincoln National by 28.7% during the first quarter. APG Asset Management N.V. now owns 3,484,708 shares of the financial services provider’s stock valued at $184,628,000 after buying an additional 776,843 shares during the period. Geode Capital Management LLC increased its stake in shares of Lincoln National by 3.0% during the first quarter. Geode Capital Management LLC now owns 3,163,023 shares of the financial services provider’s stock valued at $196,438,000 after buying an additional 90,723 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Lincoln National by 0.9% during the first quarter. JPMorgan Chase & Co. now owns 2,736,234 shares of the financial services provider’s stock valued at $170,386,000 after buying an additional 24,111 shares during the period. Hedge funds and other institutional investors own 75.98% of the company’s stock.

Shares of NYSE LNC opened at $61.44 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a market capitalization of $11.70 billion, a P/E ratio of 15.43, a PEG ratio of 0.16 and a beta of 2.23. The business has a 50-day simple moving average of $65.56. Lincoln National Co. has a fifty-two week low of $29.42 and a fifty-two week high of $71.68.

Lincoln National (NYSE:LNC) last released its earnings results on Tuesday, May 4th. The financial services provider reported $1.82 EPS for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.33. Lincoln National had a return on equity of 3.55% and a net margin of 3.80%. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that Lincoln National Co. will post 9.34 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Monday, July 12th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, July 9th. Lincoln National’s dividend payout ratio (DPR) is 37.75%.

In related news, EVP John Christopher Kennedy sold 1,441 shares of Lincoln National stock in a transaction dated Tuesday, June 15th. The stock was sold at an average price of $67.14, for a total transaction of $96,748.74. Following the completion of the sale, the executive vice president now owns 12,562 shares of the company’s stock, valued at $843,412.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.89% of the company’s stock.

Several equities analysts have issued reports on the company. Citigroup lifted their target price on Lincoln National from $57.00 to $67.00 in a research note on Wednesday, March 31st. Piper Sandler cut their target price on Lincoln National from $70.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, July 8th. They noted that the move was a valuation call. Royal Bank of Canada lifted their target price on Lincoln National from $59.00 to $69.00 and gave the company a “sector perform” rating in a research note on Friday, May 7th. JPMorgan Chase & Co. lifted their target price on Lincoln National from $63.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, April 5th. Finally, Zacks Investment Research upgraded Lincoln National from a “sell” rating to a “hold” rating and set a $65.00 target price on the stock in a research note on Friday, July 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $63.93.

About Lincoln National

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 Annuities segment offers variable, fixed, and indexed variable annuities.

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

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