Equities research analysts at Credit Suisse Group AG began coverage on shares of Lincoln National Corp. (NYSE:LNC) in a research note issued on Friday. The firm set a “neutral” rating and a $57.00 price target on the stock. Credit Suisse Group AG’s price objective indicates a potential upside of 15.67% from the company’s current price.
A number of other research analysts have also weighed in on LNC. Wells Fargo & Co. assumed coverage on Lincoln National Corp. in a research note on Friday, September 23rd. They set a “market perform” rating on the stock. Morgan Stanley reissued a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. FBR & Co reissued a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. Goldman Sachs Group Inc. lowered Lincoln National Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $51.00 to $46.00 in a research note on Friday, July 15th. Finally, Deutsche Bank AG reduced their price target on Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating on the stock in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lincoln National Corp. presently has a consensus rating of “Hold” and an average target price of $51.69.
Lincoln National Corp. (NYSE:LNC) opened at 49.28 on Friday. The firm has a market capitalization of $11.47 billion, a PE ratio of 11.81 and a beta of 2.04. The company’s 50-day moving average price is $47.07 and its 200 day moving average price is $43.70. Lincoln National Corp. has a 1-year low of $30.39 and a 1-year high of $57.54.
Lincoln National Corp. (NYSE:LNC) last announced its earnings results on Wednesday, August 3rd. The company reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. Lincoln National Corp. had a net margin of 7.71% and a return on equity of 9.27%. Lincoln National Corp.’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. On average, equities analysts anticipate that Lincoln National Corp. will post $6.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.03%. Lincoln National Corp.’s dividend payout ratio is presently 23.92%.
In related news, EVP Lisa Buckingham sold 12,881 shares of Lincoln National Corp. stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total value of $621,637.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick S. Pittard sold 10,382 shares of Lincoln National Corp. stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $46.67, for a total value of $484,527.94. Following the completion of the transaction, the director now owns 13,115 shares of the company’s stock, valued at $612,077.05. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Lincoln National Corp. during the second quarter worth approximately $84,522,000. Prudential PLC increased its position in Lincoln National Corp. by 30.6% in the first quarter. Prudential PLC now owns 4,098,900 shares of the company’s stock worth $160,677,000 after buying an additional 960,600 shares during the period. Lord Abbett & CO. LLC increased its position in Lincoln National Corp. by 114.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,224,586 shares of the company’s stock worth $47,477,000 after buying an additional 652,965 shares during the period. Hexavest Inc. purchased a new position in Lincoln National Corp. during the second quarter worth approximately $24,262,000. Finally, Virginia Retirement Systems ET AL purchased a new position in Lincoln National Corp. during the second quarter worth approximately $14,826,000. Institutional investors and hedge funds own 78.68% of the company’s stock.
About Lincoln National Corp.
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. It 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 in 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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