Lincoln National Corporation (LNC) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Lincoln National Corporation (NYSE:LNC) from a hold rating to a buy rating in a research report released on Thursday morning. They currently have $76.00 target price on the financial services provider’s stock.
According to Zacks, “Over the last one year, Lincoln National’s shares have outperformed the industry. The company is well positioned for long-term growth, given its focus on reducing exposure to businesses with long-term guarantee. It has also streamlined its business by axing unprofitable and non-core lines. In the second-quarter 2017 its earnings surpassed the Zacks Consensus Estimate and grew year over year on the back of on higher premiums, fee income, net investment income as well as other income. The stock has witnessed an upward revision in the Zacks Consensus Estimate for 2017 over the past seven days. “
A number of other analysts have also recently commented on LNC. Barclays PLC upped their price objective on Lincoln National Corporation from $84.00 to $85.00 and gave the company an overweight rating in a research report on Friday, August 11th. Wells Fargo & Company reiterated a hold rating on shares of Lincoln National Corporation in a research report on Wednesday, August 2nd. Royal Bank Of Canada upped their price target on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an outperform rating in a research report on Friday, August 4th. BidaskClub cut Lincoln National Corporation from a buy rating to a hold rating in a research report on Tuesday. Finally, Bank of America Corp set a $78.00 price target on Lincoln National Corporation in a research report on Tuesday, July 4th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $73.40.
Lincoln National Corporation (NYSE LNC) traded up 0.53% during trading on Thursday, reaching $68.36. 600,921 shares of the company’s stock were exchanged. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of 10.41 and a beta of 1.99. The firm’s 50-day moving average price is $71.23 and its 200-day moving average price is $68.23. Lincoln National Corporation has a 12 month low of $44.74 and a 12 month high of $75.78.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. The company 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 10.99% and a net margin of 10.85%. Lincoln National Corporation’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 earnings per share. On average, equities research analysts anticipate that Lincoln National Corporation will post $7.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
In related news, Director Isaiah Tidwell sold 13,946 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.41% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in Lincoln National Corporation by 2,466.1% in the first quarter. Acadian Asset Management LLC now owns 413,417 shares of the financial services provider’s stock valued at $27,056,000 after buying an additional 397,306 shares in the last quarter. CWM LLC acquired a new stake in Lincoln National Corporation during the second quarter valued at about $211,000. American Century Companies Inc. acquired a new stake in Lincoln National Corporation during the first quarter valued at about $6,437,000. Henderson Group PLC boosted its stake in Lincoln National Corporation by 2.1% in the first quarter. Henderson Group PLC now owns 29,647 shares of the financial services provider’s stock valued at $1,940,000 after buying an additional 600 shares in the last quarter. Finally, Scout Investments Inc. boosted its stake in Lincoln National Corporation by 44.7% in the first quarter. Scout Investments Inc. now owns 566,385 shares of the financial services provider’s stock valued at $22,202,000 after buying an additional 174,899 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.
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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