Lincoln National Corporation’s (LNC) “Hold” Rating Reaffirmed at Wells Fargo & Company
Several other brokerages have also recently commented on LNC. BidaskClub cut Lincoln National Corporation from a buy rating to a hold rating in a research report on Thursday, July 27th. Zacks Investment Research raised Lincoln National Corporation from a hold rating to a strong-buy rating and set a $81.00 target price for the company in a research report on Tuesday, July 11th. Bank of America Corporation set a $78.00 target price on Lincoln National Corporation in a research report on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating on shares of Lincoln National Corporation in a research report on Monday, June 26th. Five 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’s stock. Lincoln National Corporation has a consensus rating of Buy and a consensus price target of $72.60.
Lincoln National Corporation (NYSE LNC) traded down 0.18% during trading on Wednesday, hitting $73.17. The stock had a trading volume of 1,774,751 shares. Lincoln National Corporation has a 1-year low of $42.75 and a 1-year high of $74.63. The stock has a market cap of $16.41 billion, a PE ratio of 12.01 and a beta of 1.99. The firm’s 50-day moving average price is $69.49 and its 200-day moving average price is $67.84.
Lincoln National Corporation (NYSE:LNC) last issued its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a return on equity of 10.70% and a net margin of 10.43%. Lincoln National Corporation’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. On average, equities research analysts predict that Lincoln National Corporation will post $7.34 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.16 annualized dividend and a yield of 1.59%. Lincoln National Corporation’s dividend payout ratio (DPR) is currently 19.14%.
In other news, Director Isaiah Tidwell sold 13,946 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $65.04, for a total value of $907,047.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael F. Mee sold 13,574 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $68.62, for a total value of $931,447.88. Following the completion of the sale, the director now directly owns 6,336 shares in the company, valued at $434,776.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,693 shares of company stock worth $3,899,915. Corporate insiders own 1.41% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its stake in shares of Lincoln National Corporation by 0.3% in the first quarter. Quadrant Capital Group LLC now owns 3,965 shares of the financial services provider’s stock valued at $255,000 after buying an additional 11 shares in the last quarter. Azimuth Capital Management LLC raised its stake in shares of Lincoln National Corporation by 0.3% in the first quarter. Azimuth Capital Management LLC now owns 7,185 shares of the financial services provider’s stock valued at $470,000 after buying an additional 25 shares in the last quarter. Stratford Consulting LLC raised its stake in shares of Lincoln National Corporation by 0.4% in the first quarter. Stratford Consulting LLC now owns 6,405 shares of the financial services provider’s stock valued at $419,000 after buying an additional 27 shares in the last quarter. Savant Capital LLC raised its stake in shares of Lincoln National Corporation by 0.4% in the second quarter. Savant Capital LLC now owns 6,847 shares of the financial services provider’s stock valued at $463,000 after buying an additional 30 shares in the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in shares of Lincoln National Corporation by 1.3% in the first quarter. Tocqueville Asset Management L.P. now owns 4,842 shares of the financial services provider’s stock valued at $317,000 after buying an additional 60 shares in the last quarter. 80.14% of the stock is currently owned by institutional investors.
Lincoln National Corporation 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. The Company 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 on 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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