Lincoln National Corporation (LNC) Upgraded to “Buy” at BidaskClub
BidaskClub upgraded shares of Lincoln National Corporation (NYSE:LNC) from a hold rating to a buy rating in a research report released on Thursday.
LNC has been the topic of several other research reports. Bank of America Corporation upgraded shares of Lincoln National Corporation from a neutral rating to a buy rating and set a $78.00 target price on the stock in a research note on Thursday, April 6th. They noted that the move was a valuation call. Keefe, Bruyette & Woods restated a hold rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Zacks Investment Research cut shares of Lincoln National Corporation from a buy rating to a hold rating in a research note on Tuesday, June 13th. Finally, Wells Fargo & Company restated a hold rating on shares of Lincoln National Corporation in a research note on Thursday, May 4th. Five analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $73.20.
Lincoln National Corporation (NYSE LNC) traded up 1.48% during mid-day trading on Thursday, reaching $74.25. 1,250,790 shares of the company were exchanged. The stock has a 50-day moving average price of $69.49 and a 200 day moving average price of $67.84. Lincoln National Corporation has a one year low of $43.54 and a one year high of $74.94. The company has a market capitalization of $16.72 billion, a PE ratio of 11.37 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 EPS. Analysts predict that Lincoln National Corporation will post $7.42 EPS for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, July 6th. Lincoln National Corporation’s payout ratio is currently 17.79%.
In other news, Director Michael F. Mee sold 30,173 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $68.32, for a total transaction of $2,061,419.36. Following the completion of the sale, the director now owns 6,336 shares of the company’s stock, valued at approximately $432,875.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael F. Mee sold 13,574 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $68.62, for a total transaction of $931,447.88. Following the sale, the director now directly owns 6,336 shares of the company’s stock, valued at approximately $434,776.32. The disclosure for this sale can be found here. Insiders have sold a total of 57,693 shares of company stock valued at $3,899,915 in the last ninety days. Insiders own 1.41% of the company’s stock.
Several large investors have recently added to or reduced their stakes in LNC. Federated Investors Inc. PA raised its stake in Lincoln National Corporation by 370.7% in the second quarter. Federated Investors Inc. PA now owns 20,806 shares of the financial services provider’s stock valued at $1,406,000 after buying an additional 16,386 shares in the last quarter. Cadence Capital Management LLC raised its stake in Lincoln National Corporation by 152.5% in the second quarter. Cadence Capital Management LLC now owns 19,516 shares of the financial services provider’s stock valued at $1,319,000 after buying an additional 11,788 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Lincoln National Corporation by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 349,131 shares of the financial services provider’s stock valued at $23,594,000 after buying an additional 3,714 shares in the last quarter. Marshall Wace LLP purchased a new stake in Lincoln National Corporation during the second quarter valued at about $355,000. Finally, Marshall Wace North America L.P. purchased a new stake in Lincoln National Corporation during the second quarter valued at about $1,143,000. 80.14% of the stock is owned by hedge funds and other 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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