Lincoln National Corporation (LNC) Cut to Hold at BidaskClub
BidaskClub cut shares of Lincoln National Corporation (NYSE:LNC) from a buy rating to a hold rating in a research report released on Tuesday morning.
Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Lincoln National Corporation from a hold rating to a strong-buy rating and set a $81.00 target price on the stock in a report on Tuesday, July 11th. Wells Fargo & Company reaffirmed a hold rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. Barclays PLC upped their target price on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the stock an overweight rating in a report on Friday, August 11th. Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada upped their target price on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the stock an outperform rating in a report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $73.40.
Lincoln National Corporation (NYSE LNC) traded up 0.26% during midday trading on Tuesday, reaching $68.18. The company’s stock had a trading volume of 321,681 shares. The firm has a 50 day moving average price of $71.23 and a 200-day moving average price of $68.23. The firm has a market cap of $15.10 billion, a P/E ratio of 10.39 and a beta of 1.99. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78.
Lincoln National Corporation (NYSE:LNC) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. Lincoln National Corporation’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.56 EPS. On average, analysts forecast that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.71%. Lincoln National Corporation’s dividend payout ratio is presently 17.79%.
In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.41% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in LNC. Trust Co. of Vermont acquired a new stake in shares of Lincoln National Corporation during the second quarter worth about $101,000. Sun Life Financial INC boosted its stake in shares of Lincoln National Corporation by 20,600.0% in the second quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,648 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Lincoln National Corporation by 8.6% in the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after buying an additional 136 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of Lincoln National Corporation by 15.9% in the first quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after buying an additional 285 shares during the period. Finally, Financial Architects Inc boosted its stake in shares of Lincoln National Corporation by 109.2% in the first quarter. Financial Architects Inc now owns 2,900 shares of the financial services provider’s stock worth $190,000 after buying an additional 1,514 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.
About Lincoln National Corporation
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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