Lincoln National Co. (NYSE:LNC) – Equities researchers at B. Riley boosted their FY2019 EPS estimates for shares of Lincoln National in a report released on Tuesday. B. Riley analyst R. Binner now forecasts that the financial services provider will post earnings per share of $9.35 for the year, up from their previous estimate of $9.10. B. Riley has a “Neutral” rating on the stock.
A number of other research firms also recently commented on LNC. Barclays reiterated a “buy” rating and issued a $90.00 target price on shares of Lincoln National in a research report on Tuesday, January 9th. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Monday, January 8th. Keefe, Bruyette & Woods restated a “hold” rating and set a $89.00 price objective on shares of Lincoln National in a research report on Friday, December 22nd. Royal Bank of Canada restated a “buy” rating and set a $86.00 price objective on shares of Lincoln National in a research report on Friday, December 8th. Finally, JPMorgan Chase & Co. upgraded Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 price objective on the stock in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Lincoln National currently has a consensus rating of “Buy” and an average target price of $83.27.
Lincoln National (NYSE:LNC) last posted its earnings results on Wednesday, January 31st. The financial services provider reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.04. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.65 billion. Lincoln National had a return on equity of 10.86% and a net margin of 14.48%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 earnings per share.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LNC. Rowland & Co. Investment Counsel ADV bought a new position in shares of Lincoln National during the fourth quarter valued at approximately $108,000. Cerebellum GP LLC bought a new position in shares of Lincoln National during the fourth quarter valued at approximately $123,000. Resources Investment Advisors Inc. grew its stake in shares of Lincoln National by 125.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 1,800 shares of the financial services provider’s stock valued at $138,000 after buying an additional 1,000 shares during the last quarter. Focused Wealth Management Inc bought a new position in shares of Lincoln National during the fourth quarter valued at approximately $169,000. Finally, Valeo Financial Advisors LLC bought a new position in shares of Lincoln National during the third quarter valued at approximately $171,000. 80.50% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Randal J. Freitag sold 31,657 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $84.32, for a total transaction of $2,669,318.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ellen Cooper sold 7,300 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $85.01, for a total value of $620,573.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 141,324 shares of company stock worth $11,961,400. Company insiders own 1.12% of the company’s stock.
Lincoln National declared that its board has approved a share repurchase plan on Friday, January 19th that allows the company to buyback outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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Lincoln National 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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