FBR & Co Downgrades Lincoln National Corp. (LNC) to Market Perform
Lincoln National Corp. (NYSE:LNC) was downgraded by FBR & Co from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday. They presently have a $55.00 price objective on the stock. FBR & Co’s price objective indicates a potential downside of 6.81% from the company’s current price.
A number of other equities research analysts have also recently commented on LNC. Wells Fargo & Co. began coverage on Lincoln National Corp. in a report on Friday, September 23rd. They set a “market perform” rating on the stock. Goldman Sachs Group Inc. cut Lincoln National Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the company from $51.00 to $46.00 in a report on Friday, July 15th. Zacks Investment Research cut Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, Credit Suisse Group AG assumed coverage on Lincoln National Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $57.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $51.92.
Shares of Lincoln National Corp. (NYSE:LNC) opened at 59.02 on Wednesday. The stock has a market cap of $13.49 billion, a P/E ratio of 11.15 and a beta of 1.99. The company has a 50 day moving average price of $49.12 and a 200 day moving average price of $45.24. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $60.71.
Lincoln National Corp. (NYSE:LNC) last announced its earnings results on Thursday, November 3rd. The company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.28. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.43 billion. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. Lincoln National Corp.’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. Analysts anticipate that Lincoln National Corp. will post $6.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.97%. This is a positive change from Lincoln National Corp.’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 6th. Lincoln National Corp.’s payout ratio is presently 18.83%.
In other news, EVP Lisa Buckingham sold 12,881 shares of Lincoln National Corp. stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total transaction of $621,637.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Patrick S. Pittard sold 10,382 shares of Lincoln National Corp. stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $46.67, for a total value of $484,527.94. Following the sale, the director now directly owns 13,115 shares in the company, valued at $612,077.05. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Lincoln National Corp. during the second quarter worth about $84,522,000. Lord Abbett & CO. LLC increased its position 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 during the period. Hexavest Inc. purchased a new position in Lincoln National Corp. during the second quarter worth approximately $24,262,000. Virginia Retirement Systems ET AL purchased a new position in Lincoln National Corp. during the second quarter worth approximately $14,826,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Lincoln National Corp. by 127.3% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 558,310 shares of the company’s stock worth $26,229,000 after buying an additional 312,660 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Lincoln National Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National Corp. and related stocks with our FREE daily email newsletter.