Lincoln National Hits New 1-Year High at $55.85 (LNC)
Lincoln National (NYSE:LNC)’s share price reached a new 52-week high during trading on Tuesday , ARN reports. The stock traded as high as $55.85 and last traded at $55.34, with a volume of 1,006,330 shares traded. The stock had previously closed at $55.04.
Several analysts have recently commented on the stock. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Lincoln National in a research note on Monday, August 4th. They now have a $61.50 price target on the stock, down previously from $63.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Lincoln National in a research note on Thursday, July 31st. They now have a $56.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Lincoln National from $49.00 to $52.00 in a research note on Thursday, July 31st. They now have an “underperform” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $57.71.
The stock has a 50-day moving average of $52.56 and a 200-day moving average of $50.67. The company has a market cap of $14.427 billion and a price-to-earnings ratio of 10.58.
Lincoln National (NYSE:LNC) last announced its earnings data on Wednesday, July 30th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.10. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts predict that Lincoln National will post $5.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Saturday, November 1st. Stockholders of record on Friday, October 10th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, October 8th.
In other Lincoln National news, Insider Mark E. Konen unloaded 10,000 shares of the company’s stock on the open market in a transaction dated Friday, August 29th. The stock was sold at an average price of $55.00, for a total transaction of $550,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Lincoln National Corporation (NYSE:LNC) is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies.
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