Lincoln National Corporation (LNC) Receives Buy Rating from Royal Bank Of Canada
Royal Bank Of Canada restated their buy rating on shares of Lincoln National Corporation (NYSE:LNC) in a report issued on Tuesday. The firm currently has a $83.00 price target on the financial services provider’s stock.
Other research analysts have also recently issued research reports about the company. Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research note on Tuesday, July 4th. BidaskClub lowered Lincoln National Corporation from a strong-buy rating to a buy rating in a research report on Saturday, August 12th. Zacks Investment Research raised Lincoln National Corporation from a hold rating to a buy rating and set a $83.00 target price on the stock in a research report on Tuesday, August 8th. Citigroup Inc. reaffirmed a buy rating and set a $83.00 target price (up from $82.00) on shares of Lincoln National Corporation in a research report on Thursday, September 14th. Finally, Morgan Stanley lifted their target price on Lincoln National Corporation from $76.00 to $77.00 and gave the stock an equal weight rating in a research report on Thursday, October 5th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $77.11.
Shares of Lincoln National Corporation (LNC) opened at 75.33 on Tuesday. The firm’s 50-day moving average price is $70.53 and its 200 day moving average price is $68.52. Lincoln National Corporation has a one year low of $47.36 and a one year high of $76.10. The stock has a market cap of $16.68 billion, a P/E ratio of 11.48 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion for 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%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 earnings per share. Equities research analysts expect that Lincoln National Corporation will post $7.48 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Lincoln National Corporation by 32.0% in the second quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after buying an additional 857,436 shares during the last quarter. Todd Asset Management LLC boosted its stake in Lincoln National Corporation by 57.5% in the second quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock valued at $47,659,000 after acquiring an additional 257,581 shares during the period. Prudential Financial Inc. boosted its stake in Lincoln National Corporation by 42.2% in the second quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock valued at $64,950,000 after acquiring an additional 285,168 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in Lincoln National Corporation by 84.2% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 544,208 shares of the financial services provider’s stock valued at $36,777,000 after acquiring an additional 248,800 shares during the period. Finally, CWM LLC acquired a new position in Lincoln National Corporation in the second quarter valued at approximately $211,000. 79.85% 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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