FY2017 EPS Estimates for Lincoln National Corp. (LNC) Decreased by Analyst
Lincoln National Corp. (NYSE:LNC) – Analysts at FBR & Co dropped their FY2017 earnings per share estimates for Lincoln National Corp. in a report released on Wednesday. FBR & Co analyst R. Binner now anticipates that the firm will post earnings per share of $6.65 for the year, down from their prior estimate of $6.75. FBR & Co currently has a “Market Perform” rating and a $55.00 target price on the stock.
Lincoln National Corp. (NYSE:LNC) last announced its earnings results on Thursday, November 3rd. The company reported $1.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.28. Lincoln National Corp. had a net margin of 9.63% and a return on equity of 9.89%. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the business earned $1.65 earnings per share. Lincoln National Corp.’s revenue was down 5.5% compared to the same quarter last year.
A number of other analysts also recently commented on the stock. Wells Fargo & Co. started coverage on shares of Lincoln National Corp. in a research report on Friday, September 23rd. They set a “market perform” rating on the stock. Goldman Sachs Group Inc. downgraded shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $51.00 to $46.00 in a research report on Friday, July 15th. Zacks Investment Research downgraded shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Finally, Credit Suisse Group AG started coverage on shares of Lincoln National Corp. in a research report on Friday, October 7th. They set a “neutral” rating and a $57.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Lincoln National Corp. presently has an average rating of “Hold” and a consensus target price of $51.92.
Shares of Lincoln National Corp. (NYSE:LNC) traded up 1.85% during mid-day trading on Friday, reaching $60.11. 1,936,697 shares of the company were exchanged. The company’s 50 day moving average price is $49.50 and its 200 day moving average price is $45.36. The firm has a market capitalization of $13.74 billion, a PE ratio of 11.36 and a beta of 1.99. Lincoln National Corp. has a 12 month low of $30.39 and a 12 month high of $60.71.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, January 6th. This is an increase from Lincoln National Corp.’s previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a yield of 1.93%. Lincoln National Corp.’s payout ratio is presently 18.83%.
In related news, CEO Dennis R. Glass sold 349,532 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $52.01, for a total transaction of $18,179,159.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Lisa Buckingham sold 12,881 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $48.26, for a total transaction of $621,637.06. The disclosure for this sale can be found here. Corporate insiders own 1.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in LNC. Barnett & Company Inc. bought a new position in shares of Lincoln National Corp. during the first quarter worth approximately $104,000. Capital Analysts LLC increased its position in shares of Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock worth $106,000 after buying an additional 594 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Lincoln National Corp. by 98.6% in the third quarter. Global X Management Co. LLC now owns 2,324 shares of the company’s stock worth $109,000 after buying an additional 1,154 shares during the last quarter. North Star Investment Management Corp. bought a new position in shares of Lincoln National Corp. during the second quarter worth approximately $127,000. Finally, Societe Generale bought a new position in shares of Lincoln National Corp. during the second quarter worth approximately $132,000. 78.32% of the stock is currently 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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