Lincoln National Corporation (NYSE:LNC) Stock Has Average Target Price of $47.85 According to Brokerages

Lincoln National Corporation (NYSE:LNC) has been assigned an average rating of “Hold” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $47.85.

A number of brokerages have recently weighed in on LNC. Mizuho boosted their price objective on shares of Lincoln National from $51.00 to $53.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Morgan Stanley raised their target price on Lincoln National from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, August 24th. Weiss Ratings upgraded Lincoln National from a “hold (c)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. UBS Group increased their price objective on Lincoln National from $39.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Jefferies Financial Group raised their price objective on Lincoln National from $56.00 to $57.00 and gave the stock a “buy” rating in a research note on Friday, July 10th.

Lincoln National Stock Up 0.7%

LNC stock opened at $41.69 on Friday. The stock has a market capitalization of $7.98 billion, a PE ratio of 3.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12. Lincoln National has a 52 week low of $32.18 and a 52 week high of $47.67. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $43.53 and a 200 day moving average of $38.69.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.28. The business had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. Lincoln National’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.36 EPS. Sell-side analysts forecast that Lincoln National will post 7.99 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, October 9th. Lincoln National’s dividend payout ratio is 15.60%.

Insider Activity at Lincoln National

In other Lincoln National news, Director Gary Kelly sold 15,007 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $26.50, for a total transaction of $397,685.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sean Woodroffe sold 11,000 shares of Lincoln National stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $45.28, for a total transaction of $498,080.00. Following the sale, the executive vice president owned 119,947 shares of the company’s stock, valued at approximately $5,431,200.16. The trade was a 8.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.03% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LNC. Bain Capital Prairie LLC acquired a new stake in Lincoln National during the 4th quarter worth about $835,360,000. Dimensional Fund Advisors LP lifted its holdings in shares of Lincoln National by 24.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider’s stock valued at $275,304,000 after buying an additional 1,522,179 shares during the period. State Street Corp boosted its stake in shares of Lincoln National by 3.6% in the second quarter. State Street Corp now owns 6,106,302 shares of the financial services provider’s stock worth $215,858,000 after buying an additional 215,007 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Lincoln National by 3.9% in the first quarter. Jennison Associates LLC now owns 3,823,152 shares of the financial services provider’s stock worth $135,722,000 after buying an additional 141,994 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Lincoln National by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,959,195 shares of the financial services provider’s stock worth $131,801,000 after acquiring an additional 14,842 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

About Lincoln National

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement solutions primarily in the United States. Its businesses are designed to help individuals, employers and institutions manage income protection, long-term financial planning and retirement needs.

The company offers life insurance, annuities and group protection products. Its group protection business includes employer-sponsored life, disability and dental insurance, while its retirement business provides products and services intended to support workplace retirement plans and individual retirement income strategies.

Lincoln traces its origins to the founding of The Lincoln National Life Insurance Company in 1905 and takes its name from President Abraham Lincoln.