ValuEngine cut shares of Lincoln National (NYSE:LNC) from a buy rating to a hold rating in a research note published on Tuesday.
LNC has been the topic of several other research reports. Bank of America started coverage on shares of Lincoln National in a research note on Monday, March 26th. They set a buy rating and a $90.00 price objective on the stock. Barclays reiterated a buy rating and issued a $90.00 target price on shares of Lincoln National in a research note on Tuesday, January 9th. JPMorgan Chase set a $87.00 target price on shares of Lincoln National and gave the stock a buy rating in a research note on Monday, April 2nd. Keefe, Bruyette & Woods reiterated a hold rating and issued a $89.00 target price on shares of Lincoln National in a research note on Friday, December 22nd. Finally, Royal Bank of Canada reiterated a buy rating and issued a $86.00 target price on shares of Lincoln National in a research note on Friday, December 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $84.33.
NYSE:LNC opened at $69.16 on Tuesday. Lincoln National has a one year low of $62.67 and a one year 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 $15,570.50, a P/E ratio of 9.17, a price-to-earnings-growth ratio of 1.05 and a beta of 1.94.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.32 dividend on an annualized basis and a yield of 1.91%. Lincoln National’s dividend payout ratio (DPR) is 16.94%.
Lincoln National declared that its Board of Directors has authorized a share buyback plan on Friday, January 19th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Ellen Cooper sold 7,300 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $85.01, for a total transaction of $620,573.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dennis R. Glass sold 102,367 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were 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. In the last 90 days, insiders have sold 167,736 shares of company stock worth $14,032,099. 1.12% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Lombard Odier Asset Management Switzerland SA lifted its position in Lincoln National by 2.9% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 24,219 shares of the financial services provider’s stock valued at $1,862,000 after purchasing an additional 674 shares during the period. BB&T Securities LLC increased its holdings in Lincoln National by 4.9% during the fourth quarter. BB&T Securities LLC now owns 15,658 shares of the financial services provider’s stock valued at $1,203,000 after buying an additional 736 shares during the last quarter. Corient Capital Partners LLC increased its holdings in Lincoln National by 2.0% during the fourth quarter. Corient Capital Partners LLC now owns 40,851 shares of the financial services provider’s stock valued at $3,140,000 after buying an additional 811 shares during the last quarter. Dorsey Wright & Associates increased its holdings in Lincoln National by 2.8% during the fourth quarter. Dorsey Wright & Associates now owns 30,522 shares of the financial services provider’s stock valued at $2,346,000 after buying an additional 823 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in Lincoln National by 13.0% during the fourth quarter. Raymond James Trust N.A. now owns 7,167 shares of the financial services provider’s stock valued at $551,000 after buying an additional 826 shares during the last quarter. Institutional investors own 82.34% of the company’s stock.
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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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