Lincoln National Corp. (LNC) Stock Price Down 1.6%
Lincoln National Corp. (NYSE:LNC)’s share price dropped 1.6% during mid-day trading on Thursday . The stock traded as low as $45.43 and last traded at $45.43, with a volume of 1,257,595 shares changing hands. The stock had previously closed at $46.19.
LNC has been the topic of several recent analyst reports. Barclays PLC decreased their price objective on shares of Lincoln National Corp. from $51.00 to $49.00 and set an “overweight” rating on the stock in a report on Thursday, May 5th. FBR & Co reaffirmed a “buy” rating on shares of Lincoln National Corp. in a report on Thursday, May 5th. Morgan Stanley reiterated a “buy” rating on shares of Lincoln National Corp. in a research report on Friday, June 10th. Bank of America Corp. cut shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 29th. Finally, Evercore ISI started coverage on shares of Lincoln National Corp. in a research report on Wednesday, July 6th. They issued a “buy” rating and a $47.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $53.13.
The firm has a market capitalization of $10.67 billion and a price-to-earnings ratio of 10.98. The company’s 50-day moving average is $43.12 and its 200-day moving average is $41.22.
Lincoln National Corp. (NYSE:LNC) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.58 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the company earned $1.46 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts expect that Lincoln National Corp. will post $6.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.18%.
Several large investors have added to or reduced their stakes in LNC. Trexquant Investment LP raised its stake 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 in the last quarter. I.G. Investment Management LTD. raised its stake 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 in the last quarter. American International Group Inc. raised its stake in Lincoln National Corp. by 1.3% in the fourth quarter. American International Group Inc. now owns 102,038 shares of the company’s stock valued at $5,129,000 after buying an additional 1,355 shares in the last quarter. Finally, KBC Group NV raised its stake 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 in 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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