Lincoln National Corp. (LNC) Price Target Raised to $63.00 at FBR & Co
Other analysts have also issued reports about the stock. Zacks Investment Research raised shares of Lincoln National Corp. from a hold rating to a buy rating and set a $70.00 price target for the company in a research report on Monday, November 21st. 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 for the company. 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 for the company. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $53.50.
Lincoln National Corp. (NYSE:LNC) opened at 63.15 on Monday. The stock has a market cap of $14.43 billion, a P/E ratio of 11.93 and a beta of 1.99. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $64.71. The company has a 50 day moving average of $54.03 and a 200-day moving average of $46.85.
Lincoln National Corp. (NYSE:LNC) last released its quarterly earnings results on Thursday, November 3rd. The company reported $1.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.28. The business earned $3.53 billion during the quarter, compared to analyst estimates of $3.43 billion. Lincoln National Corp. had a net margin of 9.63% and a return on equity of 9.89%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. Equities analysts forecast that Lincoln National Corp. will post $6.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, January 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.84%. This is a positive change from Lincoln National Corp.’s previous quarterly dividend of $0.25. Lincoln National Corp.’s dividend payout ratio (DPR) is presently 18.83%.
In other Lincoln National Corp. news, insider Mark E. Konen sold 154,000 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $58.62, for a total value of $9,027,480.00. Following the transaction, the insider now owns 190,411 shares in the company, valued at approximately $11,161,892.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christine A. Janofsky sold 1,025 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $60.11, for a total value of $61,612.75. The disclosure for this sale can be found here. 1.41% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in LNC. Capital Analysts LLC raised its position in Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock valued at $106,000 after buying an additional 594 shares in the last quarter. Global X Management Co. LLC raised its position in 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 valued at $109,000 after buying an additional 1,154 shares in the last quarter. Barnett & Company Inc. bought a new position in Lincoln National Corp. during the first quarter valued at approximately $104,000. Fuller & Thaler Asset Management Inc. raised its position in Lincoln National Corp. by 75.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,800 shares of the company’s stock valued at $132,000 after buying an additional 1,200 shares in the last quarter. Finally, North Star Investment Management Corp. bought a new position in Lincoln National Corp. during the second quarter valued at approximately $127,000. Institutional investors own 77.97% of the company’s stock.
Lincoln National Corp. Company Profile
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.