Lincoln National (LNC) Shares Gap Down to $62.04

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Lincoln National Co. (NYSE:LNC) shares gapped down before the market opened on Thursday . The stock had previously closed at $62.47, but opened at $62.04. Lincoln National shares last traded at $60.39, with a volume of 2693265 shares.

Several brokerages have recently commented on LNC. ValuEngine upgraded shares of Lincoln National from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 13th. Morgan Stanley dropped their target price on shares of Lincoln National from $76.00 to $74.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 13th. Finally, Zacks Investment Research cut shares of Lincoln National from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $74.69.

The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of 7.41, a P/E/G ratio of 0.76 and a beta of 1.90. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.41.

Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, February 6th. The financial services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.13 by $0.02. Lincoln National had a net margin of 9.92% and a return on equity of 12.41%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the firm posted $1.98 EPS. Lincoln National’s revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that Lincoln National Co. will post 9.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.37 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.48 annualized dividend and a dividend yield of 2.45%. Lincoln National’s dividend payout ratio is currently 17.45%.

In other Lincoln National news, CEO Dennis R. Glass sold 10,000 shares of Lincoln National stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $60.49, for a total transaction of $604,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.31% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Lincoln National by 59.7% in the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock worth $806,475,000 after acquiring an additional 4,457,743 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Lincoln National by 5,290.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,956,873 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 3,883,468 shares in the last quarter. Norges Bank purchased a new stake in Lincoln National during the 4th quarter worth about $197,189,000. Millennium Management LLC increased its holdings in shares of Lincoln National by 148.9% in the 4th quarter. Millennium Management LLC now owns 1,180,277 shares of the financial services provider’s stock valued at $60,560,000 after acquiring an additional 706,124 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in Lincoln National by 109.4% during the 4th quarter. Prudential Financial Inc. now owns 1,328,483 shares of the financial services provider’s stock worth $68,165,000 after acquiring an additional 694,063 shares during the period. 79.43% of the stock is owned by hedge funds and other institutional investors.

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Lincoln National Company Profile (NYSE:LNC)

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.

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