Teachers Retirement System of The State of Kentucky grew its position in Lincoln National Co. (NYSE:LNC) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,608 shares of the financial services provider’s stock after purchasing an additional 3,900 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.25% of Lincoln National worth $41,479,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Lincoln National by 3.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 801,800 shares of the financial services provider’s stock valued at $61,635,000 after buying an additional 26,494 shares during the period. Twin Capital Management Inc. raised its holdings in shares of Lincoln National by 8.5% during the 3rd quarter. Twin Capital Management Inc. now owns 201,505 shares of the financial services provider’s stock valued at $14,806,000 after buying an additional 15,803 shares during the period. North Star Investment Management Corp. raised its holdings in shares of Lincoln National by 45.2% during the 4th quarter. North Star Investment Management Corp. now owns 5,615 shares of the financial services provider’s stock valued at $432,000 after buying an additional 1,749 shares during the period. Aperio Group LLC raised its holdings in shares of Lincoln National by 2.5% during the 4th quarter. Aperio Group LLC now owns 302,754 shares of the financial services provider’s stock valued at $23,273,000 after buying an additional 7,276 shares during the period. Finally, Toronto Dominion Bank increased its holdings in Lincoln National by 12.2% during the 4th quarter. Toronto Dominion Bank now owns 94,441 shares of the financial services provider’s stock worth $7,260,000 after purchasing an additional 10,295 shares during the last quarter. 82.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lincoln National Co. (NYSE LNC) opened at $78.71 on Monday. The stock has a market capitalization of $17,179.05, a PE ratio of 8.52, a PEG ratio of 1.16 and a beta of 1.97. Lincoln National Co. has a 52 week low of $61.45 and a 52 week high of $86.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.10 and a current ratio of 0.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.68%. Lincoln National’s dividend payout ratio is presently 14.29%.
Lincoln National declared that its board has approved a stock repurchase plan on Friday, January 19th that permits the company to repurchase shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
LNC has been the topic of several analyst reports. Wells Fargo & Co set a $80.00 price objective on Lincoln National and gave the stock a “hold” rating in a report on Thursday, November 16th. Royal Bank of Canada restated a “buy” rating and set a $86.00 price objective on shares of Lincoln National in a research report on Friday, December 8th. Keefe, Bruyette & Woods restated a “hold” rating and set a $89.00 price objective on shares of Lincoln National in a research report on Friday, December 22nd. JPMorgan Chase & Co. upgraded Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 price target for the company in a research report on Tuesday, January 2nd. Finally, Deutsche Bank started coverage on Lincoln National in a research report on Tuesday, January 2nd. They set a “buy” rating and a $84.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $83.33.
In other Lincoln National news, CFO Randal J. Freitag sold 31,657 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $84.32, for a total value of $2,669,318.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth S. Solon sold 1,875 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $78.53, for a total value of $147,243.75. Following the completion of the transaction, the executive vice president now directly owns 148,067 shares of the company’s stock, valued at approximately $11,627,701.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,199 shares of company stock valued at $12,108,644. Insiders own 1.12% of the company’s stock.
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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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