Municipal Employees Retirement System of Michigan Cuts Stake in Lincoln National Corporation (NYSE:LNC)

Municipal Employees Retirement System of Michigan lowered its position in Lincoln National Corporation (NYSE:LNC) by 10.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,170 shares of the financial services provider’s stock after selling 1,650 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Lincoln National Corporation were worth $957,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Lincoln National Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock worth $1,497,782,000 after buying an additional 1,215,192 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Lincoln National Corporation by 2,922.6% in the first quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock worth $1,205,509,000 after buying an additional 17,809,394 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Lincoln National Corporation by 16.7% in the first quarter. Neuberger Berman Group LLC now owns 4,483,836 shares of the financial services provider’s stock worth $293,467,000 after buying an additional 640,510 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Lincoln National Corporation by 40.2% in the first quarter. JPMorgan Chase & Co. now owns 2,679,809 shares of the financial services provider’s stock worth $175,392,000 after buying an additional 768,184 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Lincoln National Corporation by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,479,344 shares of the financial services provider’s stock worth $162,267,000 after buying an additional 8,928 shares during the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.

Lincoln National Corporation (LNC) opened at 71.40 on Friday. The stock has a market cap of $15.81 billion, a PE ratio of 10.88 and a beta of 1.99. Lincoln National Corporation has a 12-month low of $44.74 and a 12-month high of $75.78. The firm has a 50-day moving average price of $70.77 and a 200-day moving average price of $68.20.

Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the business earned $1.56 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts forecast that Lincoln National Corporation will post $7.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s payout ratio is 17.79%.

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LNC has been the subject of a number of research reports. BidaskClub upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Barclays PLC boosted their target price on Lincoln National Corporation from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Monday, June 5th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Lincoln National Corporation has an average rating of “Buy” and an average price target of $74.10.

In related news, Director Isaiah Tidwell sold 13,946 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $65.04, for a total value of $907,047.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.41% of the stock is currently owned by company insiders.

About Lincoln National Corporation

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

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