Lincoln National (NYSE:LNC) Shares Gap Up to $30.67

Lincoln National Co. (NYSE:LNC)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $30.67, but opened at $31.50. Lincoln National shares last traded at $31.61, with a volume of 157,263 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on LNC. Evercore ISI raised their price objective on Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler cut their price objective on Lincoln National from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. raised their price objective on Lincoln National from $26.00 to $29.00 and gave the company an “underweight” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company dropped their target price on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.90.

Lincoln National Price Performance

The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 4.20, a P/E/G ratio of 0.24 and a beta of 1.80. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $29.10 and a two-hundred day simple moving average of $27.23.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.45 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.80 dividend on an annualized basis and a yield of 5.67%. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Merchants Corp acquired a new stake in Lincoln National during the 4th quarter valued at $269,000. Advisors Preferred LLC acquired a new stake in Lincoln National during the 4th quarter valued at $3,830,000. Capital Advisors Inc. OK acquired a new stake in Lincoln National during the 4th quarter valued at $3,102,000. Louisiana State Employees Retirement System acquired a new stake in Lincoln National during the 4th quarter valued at $2,290,000. Finally, Jump Financial LLC raised its stake in Lincoln National by 73.7% during the 3rd quarter. Jump Financial LLC now owns 306,565 shares of the financial services provider’s stock valued at $7,569,000 after purchasing an additional 130,047 shares during the period. Institutional investors own 72.81% of the company’s stock.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.