FBR & Co Raises Lincoln National Corp. (LNC) Price Target to $55.00
Lincoln National Corp. (NYSE:LNC) had its price objective upped by analysts at FBR & Co from $52.00 to $55.00 in a research note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock. FBR & Co’s price target points to a potential upside of 12.66% from the stock’s current price.
Several other research analysts have also weighed in on LNC. Wells Fargo & Co. assumed coverage on Lincoln National Corp. in a research report on Friday, September 23rd. They set a “market perform” rating on the stock. Goldman Sachs Group Inc. downgraded Lincoln National Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $51.00 to $46.00 in a research note on Friday, July 15th. Deutsche Bank AG reduced their target price 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. Bank of America Corp. downgraded Lincoln National Corp. from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 29th. Finally, Citigroup Inc. reduced their target price on Lincoln National Corp. from $46.00 to $44.00 and set a “neutral” 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 issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $51.92.
Shares of Lincoln National Corp. (NYSE:LNC) remained flat at $48.82 on Tuesday. 1,669,272 shares of the company’s stock traded hands. Lincoln National Corp. has a 52-week low of $30.39 and a 52-week high of $57.54. The company has a market cap of $11.37 billion, a P/E ratio of 11.70 and a beta of 2.04. The firm has a 50-day moving average price of $47.49 and a 200-day moving average price of $44.06.
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Lincoln National Corp. (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.58 by $0.02. The company 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 firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. On average, equities research analysts anticipate that Lincoln National Corp. will post $6.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.05%. Lincoln National Corp.’s dividend payout ratio (DPR) is currently 23.92%.
In other news, Director Patrick S. Pittard sold 10,382 shares of the business’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $46.67, for a total transaction of $484,527.94. Following the completion of the transaction, the director now owns 13,115 shares of the company’s stock, valued at approximately $612,077.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Buckingham sold 12,881 shares of the business’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total value of $621,637.06. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Teachers Advisors Inc. boosted its position in shares of Lincoln National Corp. by 11.8% in the first quarter. Teachers Advisors Inc. now owns 408,970 shares of the company’s stock worth $16,032,000 after buying an additional 43,298 shares during the last quarter. ING Groep NV purchased a new position in shares of Lincoln National Corp. during the first quarter worth about $216,000. Aviva PLC boosted its position in shares of Lincoln National Corp. by 1.0% in the first quarter. Aviva PLC now owns 126,652 shares of the company’s stock worth $4,965,000 after buying an additional 1,298 shares during the last quarter. Credit Agricole S A boosted its position in shares of Lincoln National Corp. by 56.5% in the first quarter. Credit Agricole S A now owns 372,747 shares of the company’s stock worth $14,612,000 after buying an additional 134,507 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Lincoln National Corp. by 9.2% in the first quarter. Canada Pension Plan Investment Board now owns 279,045 shares of the company’s stock worth $10,939,000 after buying an additional 23,400 shares during the last quarter. 78.67% of the stock is 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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