Lincoln National Corporation (LNC) Receives Average Recommendation of “Hold” from Brokerages
Lincoln National Corporation (NYSE:LNC) has been given a consensus rating of “Hold” by the twelve research firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $73.33.
Several research analysts recently commented on LNC shares. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, June 5th. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. BidaskClub upgraded shares of Lincoln National Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Finally, Bank of America Corporation set a $78.00 price objective on shares of Lincoln National Corporation in a research note on Tuesday, July 4th.
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Shares of Lincoln National Corporation (LNC) traded up 0.89% during midday trading on Wednesday, hitting $65.80. 1,375,918 shares of the company traded hands. The company has a 50-day moving average price of $70.27 and a 200-day moving average price of $67.98. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78. The stock has a market capitalization of $14.57 billion, a P/E ratio of 10.02 and a beta of 1.98.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion during 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%. Lincoln National Corporation’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.56 EPS. Analysts anticipate that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.76%. Lincoln National Corporation’s payout ratio is 17.79%.
Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in Lincoln National Corporation by 32.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after purchasing an additional 857,436 shares in the last quarter. Todd Asset Management LLC increased its stake in shares of Lincoln National Corporation by 57.5% in the second quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock worth $47,659,000 after acquiring an additional 257,581 shares during the period. CWM LLC acquired a new stake in shares of Lincoln National Corporation in the second quarter worth $211,000. American Century Companies Inc. acquired a new stake in shares of Lincoln National Corporation in the first quarter worth $6,437,000. Finally, Henderson Group PLC increased its stake in shares of Lincoln National Corporation by 2.1% in the first quarter. Henderson Group PLC now owns 29,647 shares of the financial services provider’s stock worth $1,940,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 79.87% of the company’s stock.
Lincoln National Corporation Company Profile
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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