Lincoln National Corp. (LNC) PT Raised to $55.00 at FBR & Co
Lincoln National Corp. (NYSE:LNC) had its price objective hoisted by research analysts at FBR & Co from $52.00 to $55.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “outperform” rating on the stock. FBR & Co’s price target would suggest a potential upside of 12.66% from the stock’s previous close.
A number of other brokerages have also recently issued reports on LNC. Zacks Investment Research cut Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Bank of America Corp. lowered Lincoln National Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 29th. Credit Suisse Group AG assumed coverage on Lincoln National Corp. in a research report on Friday, October 7th. They set a “neutral” rating and a $57.00 price target on the stock. Citigroup Inc. reduced their price target on Lincoln National Corp. from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Thursday, July 7th. Finally, Deutsche Bank AG dropped their price objective on shares of Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating on the stock in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $51.92.
Lincoln National Corp. (NYSE:LNC) opened at 48.82 on Tuesday. The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of 11.70 and a beta of 2.04. Lincoln National Corp. has a 12 month low of $30.39 and a 12 month high of $57.54. The stock’s 50 day moving average is $47.45 and its 200-day moving average is $43.99.
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Lincoln National Corp. (NYSE:LNC) last issued its earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.58 by $0.02. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the firm posted $1.46 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts expect that Lincoln National Corp. will post $6.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend 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 Lincoln National Corp. stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $48.26, for a total value of $621,637.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick S. Pittard sold 10,382 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $46.67, for a total value of $484,527.94. Following the completion of the sale, the director now owns 13,115 shares in the company, valued at $612,077.05. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Exxonmobil Investment Management Inc. TX boosted its stake in Lincoln National Corp. by 5.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 61,867 shares of the company’s stock worth $2,399,000 after buying an additional 3,200 shares during the last quarter. Royal Bank of Canada boosted its stake in Lincoln National Corp. by 18.7% in the first quarter. Royal Bank of Canada now owns 974,322 shares of the company’s stock worth $38,194,000 after buying an additional 153,317 shares during the last quarter. Sanders Capital LLC boosted its stake in Lincoln National Corp. by 0.6% in the second quarter. Sanders Capital LLC now owns 1,012,778 shares of the company’s stock worth $39,265,000 after buying an additional 5,932 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lincoln National Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 2,156,753 shares of the company’s stock worth $84,389,000 after buying an additional 39,352 shares during the last quarter. Finally, Cumberland Partners Ltd bought a new stake in Lincoln National Corp. during the second quarter worth about $217,000. Institutional investors own 78.67% of the company’s stock.
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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