California Public Employees Retirement System Has $5.99 Million Stock Position in Lincoln National Co. (NYSE:LNC)

California Public Employees Retirement System boosted its holdings in shares of Lincoln National Co. (NYSE:LNCFree Report) by 5.2% in the third quarter, HoldingsChannel reports. The fund owned 242,510 shares of the financial services provider’s stock after buying an additional 12,082 shares during the quarter. California Public Employees Retirement System’s holdings in Lincoln National were worth $5,988,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mcmillion Capital Management Inc. acquired a new stake in shares of Lincoln National during the second quarter worth approximately $75,000. Quantinno Capital Management LP acquired a new stake in shares of Lincoln National during the second quarter worth approximately $727,000. Principal Financial Group Inc. boosted its holdings in shares of Lincoln National by 82.1% during the third quarter. Principal Financial Group Inc. now owns 1,758,754 shares of the financial services provider’s stock worth $43,424,000 after purchasing an additional 792,900 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Lincoln National by 23.7% during the second quarter. Fifth Third Bancorp now owns 47,428 shares of the financial services provider’s stock worth $1,222,000 after purchasing an additional 9,091 shares during the period. Finally, Alaska Permanent Fund Corp acquired a new stake in shares of Lincoln National during the second quarter worth approximately $2,599,000. 71.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LNC shares. The Goldman Sachs Group raised their price target on shares of Lincoln National from $29.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. UBS Group raised their price target on shares of Lincoln National from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Morgan Stanley cut their price objective on shares of Lincoln National from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 2nd. Wells Fargo & Company cut their price objective on shares of Lincoln National from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. Finally, Piper Sandler cut their price objective on shares of Lincoln National from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.20.

Check Out Our Latest Stock Report on LNC

Lincoln National Trading Up 0.7 %

NYSE:LNC opened at $28.55 on Wednesday. Lincoln National Co. has a 12 month low of $18.50 and a 12 month high of $36.50. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 12.05 and a beta of 1.82. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 2.67. The company’s 50 day moving average is $26.51 and its 200-day moving average is $25.44.

Lincoln National (NYSE:LNCGet Free Report) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $1.76 by ($1.53). Lincoln National had a net margin of 3.23% and a return on equity of 21.62%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.75 billion. Equities analysts anticipate that Lincoln National Co. will post 5.09 EPS for the current year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date of this dividend is Tuesday, January 9th. Lincoln National’s dividend payout ratio is 75.95%.

About Lincoln National

(Free Report)

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.

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

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