Lincoln National Co. (NYSE:LNC) – Equities research analysts at B. Riley reduced their FY2018 earnings per share (EPS) estimates for Lincoln National in a report issued on Tuesday. B. Riley analyst R. Binner now forecasts that the financial services provider will post earnings of $8.30 per share for the year, down from their prior forecast of $8.55. B. Riley currently has a “Neutral” rating on the stock.
A number of other analysts also recently issued reports on the company. Barclays restated a “buy” rating and issued a $90.00 price target 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 price target for the company in a research report on Monday, January 8th. Deutsche Bank started coverage on Lincoln National in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 price target for the company. JPMorgan Chase & Co. upgraded Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price on the stock in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $89.00 target price on shares of Lincoln National in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given 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) last issued its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.04. The company had revenue of $3.78 billion during 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%. Lincoln National’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $1.77 earnings per share.
Institutional investors have recently made changes to their positions in the company. First Merchants Corp purchased a new position in shares of Lincoln National during the third quarter valued at $735,000. Csenge Advisory Group purchased a new position in shares of Lincoln National during the third quarter valued at $272,000. Twin Capital Management Inc. increased its stake in shares of Lincoln National by 8.5% during the third quarter. Twin Capital Management Inc. now owns 201,505 shares of the financial services provider’s stock valued at $14,806,000 after buying an additional 15,803 shares during the period. Denali Advisors LLC increased its stake in shares of Lincoln National by 155.1% during the third quarter. Denali Advisors LLC now owns 172,700 shares of the financial services provider’s stock valued at $12,690,000 after buying an additional 105,000 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in shares of Lincoln National by 7.3% during the third quarter. State of Wisconsin Investment Board now owns 299,244 shares of the financial services provider’s stock valued at $21,988,000 after buying an additional 20,239 shares during the period. Hedge funds and other institutional investors own 80.50% of the company’s stock.
In other Lincoln National news, CFO Randal J. Freitag sold 31,657 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $84.32, for a total value of $2,669,318.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ellen Cooper sold 7,300 shares of the firm’s stock in a transaction 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. In the last quarter, insiders sold 141,324 shares of company stock worth $11,961,400. Insiders own 1.12% of the company’s stock.
Lincoln National declared that its Board of Directors has approved a stock repurchase plan on Friday, January 19th that permits the company to buyback outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
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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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