Lincoln National (LNC) to Repurchase Stock

Lincoln National (NYSE:LNC) declared that its board has authorized a share repurchase program, which allows the company to repurchase shares on Friday, January 19th, EventVestor reports. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

A number of equities analysts have recently weighed in on LNC shares. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Morgan Stanley boosted their target price on Lincoln National from $77.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Deutsche Bank started coverage on Lincoln National in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 target price on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 target price on shares of Lincoln National in a research report on Friday, December 8th. Finally, B. Riley reiterated a “neutral” rating on shares of Lincoln National in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $83.27.

Lincoln National (NYSE LNC) traded up $0.11 during trading hours on Monday, hitting $83.17. The company had a trading volume of 1,699,700 shares, compared to its average volume of 1,355,885. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $18,200.04, a P/E ratio of 13.02, a P/E/G ratio of 1.12 and a beta of 2.01. Lincoln National has a 12 month low of $61.45 and a 12 month high of $85.20.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, November 1st. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.19. Lincoln National had a return on equity of 11.16% and a net margin of 10.50%. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. equities research analysts predict that Lincoln National will post 7.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, January 9th. This is an increase from Lincoln National’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 1.59%. Lincoln National’s dividend payout ratio is 20.66%.

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About Lincoln National

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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