Lincoln National Corp. (NYSE:LNC) Receives $53.00 Consensus Price Target from Brokerages
Lincoln National Corp. (NYSE:LNC) has earned a consensus rating of “Hold” from the seventeen brokerages that are presently covering the stock. Two analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $53.00.
Several equities research analysts recently commented on LNC shares. Wells Fargo & Co. started coverage on shares of Lincoln National Corp. in a research report on Friday, September 23rd. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Bank of America Corp. lowered shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. FBR & Co reiterated a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. Finally, Deutsche Bank AG lowered their price target on shares of 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.
Lincoln National Corp. (NYSE:LNC) opened at 46.98 on Wednesday. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 11.26 and a beta of 2.16. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $57.54. The stock’s 50 day moving average price is $46.61 and its 200 day moving average price is $43.31.
Lincoln National Corp. (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.58 by $0.02. The company earned $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. Lincoln National Corp. had a net margin of 7.71% and a return on equity of 9.27%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 earnings per share. On average, equities research analysts anticipate that Lincoln National Corp. will post $6.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.13%. Lincoln National Corp.’s dividend payout ratio (DPR) is currently 23.92%.
In other Lincoln National Corp. news, EVP Lisa Buckingham sold 12,881 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were 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 at this link. Also, Director Patrick S. Pittard sold 10,382 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $46.67, for a total transaction of $484,527.94. Following the completion of the sale, the director now directly owns 13,115 shares of the company’s stock, valued at approximately $612,077.05. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in Lincoln National Corp. during the second quarter worth about $84,522,000. Norges Bank acquired a new stake in Lincoln National Corp. during the fourth quarter worth about $64,400,000. Prudential Financial Inc. increased its stake in Lincoln National Corp. by 97.2% in the first quarter. Prudential Financial Inc. now owns 1,976,880 shares of the company’s stock worth $77,494,000 after buying an additional 974,590 shares in the last quarter. Prudential PLC increased its stake 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 in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake 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 in the last quarter. 78.68% of the stock is owned by hedge funds and other institutional investors.
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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