Lincoln National Corporation (NYSE:LNC) has received a consensus recommendation of “Buy” from the twelve ratings firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $74.00.
Several equities research analysts have issued reports on LNC shares. Bank of America Corporation set a $78.00 price target on shares of Lincoln National Corporation in a report on Tuesday, July 4th. Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Tuesday, August 8th. BidaskClub raised shares of Lincoln National Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, June 8th.
Shares of Lincoln National Corporation (NYSE:LNC) traded down 2.383% on Friday, reaching $69.445. 868,854 shares of the company’s stock traded hands. The firm has a market capitalization of $15.38 billion, a P/E ratio of 10.580 and a beta of 1.99. Lincoln National Corporation has a 52 week low of $44.68 and a 52 week high of $75.78. The company’s 50-day moving average is $71.32 and its 200-day moving average is $68.25.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 EPS. Equities research analysts anticipate that Lincoln National Corporation will post $7.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.63%. Lincoln National Corporation’s payout ratio is 17.79%.
In related news, Director Isaiah Tidwell sold 13,946 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.41% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its stake in Lincoln National Corporation by 2,466.1% in the first quarter. Acadian Asset Management LLC now owns 413,417 shares of the financial services provider’s stock worth $27,056,000 after buying an additional 397,306 shares during the last quarter. CWM LLC acquired a new stake in Lincoln National Corporation during the second quarter worth about $211,000. American Century Companies Inc. acquired a new stake in Lincoln National Corporation during the first quarter worth about $6,437,000. Henderson Group PLC boosted its stake in Lincoln National Corporation by 2.1% in the first quarter. Henderson Group PLC now owns 29,647 shares of the financial services provider’s stock worth $1,940,000 after buying an additional 600 shares during the last quarter. Finally, Scout Investments Inc. boosted its stake in Lincoln National Corporation by 44.7% in the first quarter. Scout Investments Inc. now owns 566,385 shares of the financial services provider’s stock worth $22,202,000 after buying an additional 174,899 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.
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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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