Lincoln National Corp. (LNC) PT Raised to $55.00 at FBR & Co
Lincoln National Corp. (NYSE:LNC) had its price target hoisted by research analysts at FBR & Co from $52.00 to $55.00 in a research note issued on Tuesday. The brokerage presently has an “outperform” rating on the stock. FBR & Co’s price objective would indicate a potential upside of 12.66% from the stock’s previous close.
LNC has been the topic of a number of other research reports. Credit Suisse Group AG assumed coverage on shares of Lincoln National Corp. in a research report on Friday, October 7th. They issued a “neutral” rating and a $57.00 target price on the stock. Zacks Investment Research cut shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. Wells Fargo & Co. assumed coverage on shares of Lincoln National Corp. in a research report on Friday, September 23rd. They issued a “market perform” rating on the stock. Goldman Sachs Group Inc. cut shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the company from $51.00 to $46.00 in a research report on Friday, July 15th. Finally, Deutsche Bank AG decreased their target price on shares of Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating on the stock in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $51.92.
Lincoln National Corp. (NYSE:LNC) opened at 48.82 on Tuesday. Lincoln National Corp. has a 12 month low of $30.39 and a 12 month high of $57.54. The stock has a market cap of $11.37 billion, a P/E ratio of 11.70 and a beta of 2.04. The stock has a 50 day moving average of $47.45 and a 200-day moving average of $43.99.
Lincoln National Corp. (NYSE:LNC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by $0.02. Lincoln National Corp. had a net margin of 7.71% and a return on equity of 9.27%. The firm earned $3.40 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period in the prior year, the company posted $1.46 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts forecast that Lincoln National Corp. will post $6.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders 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 annualized dividend and a yield of 2.05%. Lincoln National Corp.’s dividend payout ratio is currently 23.92%.
In other Lincoln National Corp. news, EVP Lisa Buckingham sold 12,881 shares of the stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $48.26, for a total value of $621,637.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Patrick S. Pittard sold 10,382 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 13,115 shares in the company, valued at $612,077.05. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in LNC. Bank of Montreal Can bought a new position in shares of Lincoln National Corp. during the second quarter valued at approximately $84,522,000. Prudential PLC raised its position in shares of Lincoln National Corp. by 30.6% in the first quarter. Prudential PLC now owns 4,098,900 shares of the company’s stock valued at $160,677,000 after buying an additional 960,600 shares in the last quarter. Lord Abbett & CO. LLC raised its position in shares of 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 valued at $47,477,000 after buying an additional 652,965 shares in the last quarter. Hexavest Inc. bought a new position in shares of Lincoln National Corp. during the second quarter valued at approximately $24,262,000. Finally, Virginia Retirement Systems ET AL bought a new position in shares of Lincoln National Corp. during the second quarter valued at approximately $14,826,000. Institutional investors own 78.67% 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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