Teachers Advisors LLC Has $67.95 Million Stake in Lincoln National Co. (LNC)

Teachers Advisors LLC trimmed its position in Lincoln National Co. (NYSE:LNC) by 44.8% during the fourth quarter, HoldingsChannel reports. The firm owned 883,976 shares of the financial services provider’s stock after selling 717,386 shares during the period. Teachers Advisors LLC’s holdings in Lincoln National were worth $67,951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Viking Global Investors LP grew its position in shares of Lincoln National by 119.3% in the 4th quarter. Viking Global Investors LP now owns 2,182,923 shares of the financial services provider’s stock valued at $167,801,000 after buying an additional 1,187,323 shares during the last quarter. Cornerstone Investment Partners LLC grew its position in shares of Lincoln National by 53.5% in the 4th quarter. Cornerstone Investment Partners LLC now owns 1,481,014 shares of the financial services provider’s stock valued at $113,846,000 after buying an additional 516,066 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Lincoln National by 30.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 896,252 shares of the financial services provider’s stock valued at $68,895,000 after buying an additional 208,053 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Lincoln National by 16.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,323,021 shares of the financial services provider’s stock valued at $101,701,000 after buying an additional 188,124 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its position in shares of Lincoln National by 17.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,213,557 shares of the financial services provider’s stock valued at $93,286,000 after buying an additional 183,500 shares during the last quarter. Institutional investors and hedge funds own 82.30% of the company’s stock.

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In other Lincoln National news, CFO Randal J. Freitag sold 31,657 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.32, for a total transaction of $2,669,318.24. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dennis R. Glass sold 102,367 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $84.71, for a total transaction of $8,671,508.57. The disclosure for this sale can be found here. Insiders have sold a total of 167,736 shares of company stock worth $14,032,099 over the last three months. 1.12% of the stock is currently owned by insiders.

Lincoln National Co. (NYSE:LNC) opened at $76.36 on Friday. 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 stock has a market cap of $16,694.52, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 1.13 and a beta of 1.97.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.04. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the firm posted $1.77 EPS. Lincoln National’s revenue for the quarter was up 7.3% on a year-over-year basis. equities analysts anticipate that Lincoln National Co. will post 8.5 earnings per share for the current fiscal year.

Lincoln National declared that its Board of Directors has initiated a stock buyback program on Friday, January 19th that allows the company to buyback outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, April 9th. Lincoln National’s payout ratio is currently 14.29%.

A number of research firms recently commented on LNC. ValuEngine raised shares of Lincoln National from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. UBS began coverage on shares of Lincoln National in a research report on Friday, March 2nd. They issued a “neutral” rating and a $84.00 target price on the stock. JPMorgan Chase & Co. raised shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price on the stock in a research report on Tuesday, January 2nd. Finally, Deutsche Bank began coverage on shares of Lincoln National in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $83.33.

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About Lincoln National

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 (NYSE:LNC)

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