California Public Employees Retirement System Has $52.31 Million Position in Lincoln National Co. (LNC)
California Public Employees Retirement System cut its stake in Lincoln National Co. (NYSE:LNC) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 711,873 shares of the financial services provider’s stock after selling 3,717 shares during the period. California Public Employees Retirement System owned 0.33% of Lincoln National worth $52,308,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Sun Life Financial INC lifted its stake in Lincoln National by 20,600.0% in the second quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,648 shares during the period. D.A. Davidson & CO. lifted its stake in Lincoln National by 8.6% in the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock valued at $116,000 after buying an additional 136 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Lincoln National during the third quarter worth approximately $171,000. Homrich & Berg acquired a new position in shares of Lincoln National during the second quarter worth approximately $204,000. Finally, Eqis Capital Management Inc. acquired a new position in shares of Lincoln National during the third quarter worth approximately $227,000. Institutional investors and hedge funds own 80.44% of the company’s stock.
A number of equities analysts have recently weighed in on LNC shares. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Citigroup reaffirmed a “buy” rating and set a $83.00 target price (up from $82.00) on shares of Lincoln National in a research report on Thursday, September 14th. Morgan Stanley upped their target price on Lincoln National from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, Wells Fargo & Company set a $80.00 target price on Lincoln National and gave the stock a “hold” rating in a research report on Thursday, November 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Lincoln National currently has an average rating of “Hold” and an average price target of $78.70.
Lincoln National Co. (NYSE LNC) traded down $0.15 during midday trading on Friday, reaching $75.70. The company had a trading volume of 1,014,400 shares, compared to its average volume of 1,471,080. The stock has a market cap of $16,598.21, a price-to-earnings ratio of 10.02, a P/E/G ratio of 1.14 and a beta of 2.01. Lincoln National Co. has a twelve month low of $61.45 and a twelve month high of $78.74. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11.
Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.19. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.62 billion. Lincoln National had a return on equity of 11.16% and a net margin of 10.50%. Lincoln National’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. research analysts anticipate that Lincoln National Co. will post 7.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.33 dividend. This is a positive change from Lincoln National’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, January 9th. Lincoln National’s dividend payout ratio is presently 18.15%.
Lincoln National Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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