Lincoln National Corp. (LNC) Shares Gap Up to $45.22
Lincoln National Corp. (NYSE:LNC) shares gapped up prior to trading on Monday . The stock had previously closed at $44.97, but opened at $45.22. Lincoln National Corp. shares last traded at $46.09, with a volume of 512,351 shares changing hands.
A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Goldman Sachs Group Inc. downgraded shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the company from $51.00 to $46.00 in a report on Friday, July 15th. Deutsche Bank AG lowered their price target on shares of Lincoln National Corp. from $57.00 to $53.00 and set a “hold” rating for the company in a report on Thursday, July 7th. Citigroup Inc. lowered their price target on shares of Lincoln National Corp. from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. Finally, Evercore ISI assumed coverage on shares of Lincoln National Corp. in a report on Wednesday, July 6th. They issued a “buy” rating and a $47.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.13.
The stock’s 50-day moving average price is $42.13 and its 200-day moving average price is $41.06. The firm has a market cap of $10.73 billion and a PE ratio of 11.04.
Lincoln National Corp. (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.45 billion. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Analysts predict that Lincoln National Corp. will post $6.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.00 dividend on an annualized basis and a yield of 2.17%.
In other Lincoln National Corp. news, insider Mark E. Konen sold 16,000 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $45.25, for a total value of $724,000.00. Following the transaction, the insider now directly owns 113,067 shares in the company, valued at approximately $5,116,281.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors have recently bought and sold shares of LNC. Argent Capital Management LLC raised its position in Lincoln National Corp. by 2.0% in the fourth quarter. Argent Capital Management LLC now owns 985,582 shares of the company’s stock valued at $49,535,000 after buying an additional 19,770 shares during the last quarter. Trexquant Investment LP raised its position in Lincoln National Corp. by 33.2% in the fourth quarter. Trexquant Investment LP now owns 49,800 shares of the company’s stock valued at $2,503,000 after buying an additional 12,400 shares during the last quarter. KBC Group NV raised its position in Lincoln National Corp. by 2.6% in the fourth quarter. KBC Group NV now owns 117,094 shares of the company’s stock valued at $5,885,000 after buying an additional 2,958 shares during the last quarter. I.G. Investment Management LTD. raised its position in Lincoln National Corp. by 3.2% in the fourth quarter. I.G. Investment Management LTD. now owns 60,540 shares of the company’s stock valued at $3,043,000 after buying an additional 1,850 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Lincoln National Corp. by 4.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 33,235 shares of the company’s stock valued at $1,670,000 after buying an additional 1,558 shares during the last quarter.
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. It 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 in 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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