Lincoln National Corp. (LNC) Coverage Initiated by Analysts at Credit Suisse Group AG
Equities researchers at Credit Suisse Group AG initiated coverage on shares of Lincoln National Corp. (NYSE:LNC) in a research report issued to clients and investors on Friday. The brokerage set a “neutral” rating and a $57.00 price target on the stock. Credit Suisse Group AG’s price objective would indicate a potential upside of 17.14% from the stock’s previous close.
Several other equities research analysts have also commented on LNC. Wells Fargo & Co. began coverage on Lincoln National Corp. in a research note on Friday, September 23rd. They set a “market perform” rating for the company. Morgan Stanley restated a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. FBR & Co restated a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. Goldman Sachs Group Inc. lowered Lincoln National Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $51.00 to $46.00 in a research note on Friday, July 15th. Finally, Deutsche Bank AG dropped their price target on Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating for the company in a research note on Thursday, July 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $52.50.
Shares of Lincoln National Corp. (NYSE:LNC) traded down 1.10% during trading on Friday, hitting $48.66. The stock had a trading volume of 1,309,951 shares. The stock has a 50-day moving average of $46.89 and a 200 day moving average of $43.53. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $57.54. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of 11.66 and a beta of 2.04.
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Lincoln National Corp. (NYSE:LNC) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $1.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. On average, analysts predict that Lincoln National Corp. will post $6.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, October 5th. Lincoln National Corp.’s dividend payout ratio is presently 23.92%.
In other Lincoln National Corp. news, EVP Lisa Buckingham sold 12,881 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total transaction of $621,637.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Patrick S. Pittard sold 10,382 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $46.67, for a total value of $484,527.94. Following the transaction, the director now directly owns 13,115 shares in the company, valued at approximately $612,077.05. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barnett & Company Inc. bought a new stake in shares of Lincoln National Corp. during the first quarter valued at about $104,000. Capital Analysts LLC increased its stake in shares of Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock valued at $106,000 after buying an additional 594 shares during the period. North Star Investment Management Corp. bought a new stake in shares of Lincoln National Corp. during the second quarter valued at about $127,000. Societe Generale bought a new stake in shares of Lincoln National Corp. during the second quarter valued at about $132,000. Finally, Quadrant Capital Group LLC increased its stake in shares of Lincoln National Corp. by 0.7% in the second quarter. Quadrant Capital Group LLC now owns 3,896 shares of the company’s stock valued at $146,000 after buying an additional 26 shares during the period. 78.68% of the stock is currently owned by institutional investors.
About Lincoln National Corp.
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. It 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 in 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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