New York State Teachers Retirement System Sells 16,424 Shares of Lincoln National Corporation $LNC

New York State Teachers Retirement System cut its holdings in Lincoln National Corporation (NYSE:LNC) by 7.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 203,464 shares of the financial services provider’s stock after selling 16,424 shares during the period. New York State Teachers Retirement System’s holdings in Lincoln National were worth $7,040,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State of Wyoming increased its position in Lincoln National by 2.7% in the 1st quarter. State of Wyoming now owns 11,630 shares of the financial services provider’s stock valued at $418,000 after buying an additional 305 shares in the last quarter. Wedmont Private Capital increased its position in Lincoln National by 3.0% in the 2nd quarter. Wedmont Private Capital now owns 10,749 shares of the financial services provider’s stock valued at $370,000 after buying an additional 311 shares in the last quarter. Baader Bank Aktiengesellschaft increased its position in Lincoln National by 4.7% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 7,329 shares of the financial services provider’s stock valued at $261,000 after buying an additional 329 shares in the last quarter. MAI Capital Management increased its position in Lincoln National by 18.1% in the 1st quarter. MAI Capital Management now owns 2,301 shares of the financial services provider’s stock valued at $83,000 after buying an additional 352 shares in the last quarter. Finally, Sage Rhino Capital LLC increased its position in Lincoln National by 4.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 8,224 shares of the financial services provider’s stock valued at $285,000 after buying an additional 378 shares in the last quarter. 72.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Lincoln National

In related news, EVP John Christopher Kennedy sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares in the company, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by insiders.

Lincoln National Price Performance

Shares of NYSE LNC opened at $38.56 on Monday. Lincoln National Corporation has a twelve month low of $27.58 and a twelve month high of $43.66. The stock’s 50 day moving average price is $40.82 and its 200-day moving average price is $35.99. The company has a market capitalization of $7.31 billion, a PE ratio of 6.73, a PEG ratio of 0.49 and a beta of 1.43. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.67.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the business earned $1.87 EPS. On average, equities analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, October 10th. Lincoln National’s payout ratio is presently 31.41%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cfra Research raised Lincoln National to a “hold” rating in a research report on Wednesday, August 6th. Morgan Stanley decreased their target price on Lincoln National from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Wall Street Zen raised Lincoln National from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Wells Fargo & Company boosted their price objective on Lincoln National from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Lincoln National from $38.00 to $41.00 and gave the stock an “underweight” rating in a report on Tuesday, July 8th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $43.09.

Lincoln National Company Profile

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.