Lincoln National Co. (NYSE:LNC) Declares $0.37 Quarterly Dividend
Lincoln National Co. (NYSE:LNC) announced a quarterly dividend on Wednesday, August 7th, RTT News reports. Shareholders of record on Thursday, October 10th will be given a dividend of 0.37 per share by the financial services provider on Friday, November 1st. This represents a $1.48 annualized dividend and a yield of 2.65%. The ex-dividend date is Wednesday, October 9th.
Lincoln National has raised its dividend by an average of 18.2% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Lincoln National has a payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lincoln National to earn $10.26 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 14.4%.
Lincoln National stock opened at $55.94 on Tuesday. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $56.79 and its two-hundred day simple moving average is $61.49. Lincoln National has a 12 month low of $48.07 and a 12 month high of $70.83. The company has a market capitalization of $11.32 billion, a price-to-earnings ratio of 6.60, a price-to-earnings-growth ratio of 0.68 and a beta of 1.99.
Several research analysts have recently weighed in on LNC shares. ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co restated a “hold” rating and issued a $69.00 price target on shares of Lincoln National in a research note on Wednesday, July 31st. Citigroup decreased their price target on Lincoln National from $75.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Goldman Sachs Group upgraded Lincoln National from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $77.00 in a research note on Tuesday, June 25th. Finally, Barclays set a $69.00 price target on Lincoln National and gave the stock a “buy” rating in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Lincoln National currently has a consensus rating of “Buy” and an average target price of $74.64.
Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.
See Also: Buy-Side Analysts
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