Lincoln National Corporation (LNC) Downgraded by Zacks Investment Research
Lincoln National Corporation (NYSE:LNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Over the last one year, Lincoln National’s shares have outperformed the industry. The company is well positioned for long-term growth, given its focus on reducing exposure to businesses with long-term guarantee. It has also streamlined its business by axing unprofitable and non-core lines. The stock has witnessed an upward revision in the Zacks Consensus Estimate for 2017 over the past 30 days. However, increased expense driven by investment in technology will dent margins over the next many quarters. Declining cash flows are also causes of concern.”
LNC has been the topic of several other reports. Bank of America Corporation set a $78.00 price target on shares of Lincoln National Corporation in a report on Tuesday, July 4th. Royal Bank Of Canada lifted their price target on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, May 4th. BidaskClub lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Barclays PLC lifted their price target on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $73.40.
Shares of Lincoln National Corporation (NYSE:LNC) traded up 0.92% during trading on Wednesday, hitting $67.78. The stock had a trading volume of 1,012,008 shares. The stock has a market cap of $15.01 billion, a price-to-earnings ratio of 10.33 and a beta of 1.99. The stock’s 50-day moving average price is $71.19 and its 200 day moving average price is $68.22. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 EPS. On average, equities analysts forecast that Lincoln National Corporation will post $7.47 EPS for the current year.
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In other news, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.41% of the company’s stock.
Several large investors have recently bought and sold shares of LNC. BlackRock Inc. raised its stake in Lincoln National Corporation by 2,922.6% in the first quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock worth $1,205,509,000 after buying an additional 17,809,394 shares in the last quarter. Vanguard Group Inc. raised its stake in Lincoln National Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock worth $1,497,782,000 after buying an additional 1,215,192 shares in the last quarter. Janus Henderson Group PLC raised its stake in Lincoln National Corporation by 3,936.0% in the second quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock worth $80,862,000 after buying an additional 1,166,893 shares in the last quarter. Teachers Advisors LLC raised its stake in Lincoln National Corporation by 158.6% in the first quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock worth $105,528,000 after buying an additional 988,753 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in Lincoln National Corporation by 3,586.0% in the first quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock worth $64,817,000 after buying an additional 963,456 shares in the last quarter. 79.89% of the stock is currently owned by institutional investors.
About Lincoln National Corporation
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. The Company 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 on 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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