Barclays PLC Reaffirms “Buy” Rating for Lincoln National Corporation (LNC)
LNC has been the subject of several other research reports. FBR & Co upped their target price on Lincoln National Corporation from $52.00 to $55.00 and gave the stock an outperform rating in a research report on Tuesday, October 18th. RBC Capital Markets raised Lincoln National Corporation from a sector perform rating to an outperform rating and upped their target price for the stock from $62.00 to $73.00 in a research report on Thursday, December 8th. Morgan Stanley downgraded Lincoln National Corporation from an overweight rating to an equal weight rating and upped their target price for the stock from $60.00 to $71.00 in a research report on Wednesday, December 14th. Wells Fargo & Company began coverage on Lincoln National Corporation in a research report on Friday, September 23rd. They issued a market perform rating for the company. Finally, Zacks Investment Research raised Lincoln National Corporation from a hold rating to a buy rating and set a $70.00 price target for the company in a report on Monday, November 21st. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $60.07.
Lincoln National Corporation (NYSE:LNC) opened at 66.54 on Monday. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 12.57 and a beta of 2.11. The firm’s 50-day moving average price is $66.54 and its 200 day moving average price is $51.91. Lincoln National Corporation has a 52-week low of $30.39 and a 52-week high of $69.49.
Lincoln National Corporation (NYSE:LNC) last issued its earnings results on Thursday, November 3rd. The company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.28. Lincoln National Corporation had a return on equity of 9.89% and a net margin of 9.63%. The company earned $3.53 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Lincoln National Corporation will post $6.39 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.74%. This is a boost from Lincoln National Corporation’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 6th. Lincoln National Corporation’s dividend payout ratio is presently 21.85%.
In related news, CEO Dennis R. Glass sold 349,532 shares of the firm’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $52.01, for a total value of $18,179,159.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Christine A. Janofsky sold 1,025 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $60.11, for a total value of $61,612.75. The disclosure for this sale can be found here. Insiders own 1.41% of the company’s stock.
A number of hedge funds have recently bought and sold shares of LNC. Tokio Marine Asset Management Co. Ltd. boosted its stake in Lincoln National Corporation by 6.5% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,365 shares of the company’s stock valued at $363,000 after buying an additional 570 shares in the last quarter. Aviance Capital Management LLC acquired a new stake in Lincoln National Corporation during the second quarter valued at approximately $202,000. UMB Bank N A MO boosted its stake in Lincoln National Corporation by 57.0% in the second quarter. UMB Bank N A MO now owns 93,395 shares of the company’s stock valued at $3,621,000 after buying an additional 33,920 shares in the last quarter. Cumberland Partners Ltd acquired a new stake in Lincoln National Corporation during the second quarter valued at approximately $217,000. Finally, Diversified Trust Co boosted its stake in Lincoln National Corporation by 1.5% in the second quarter. Diversified Trust Co now owns 53,275 shares of the company’s stock valued at $2,065,000 after buying an additional 810 shares in the last quarter. Hedge funds and other institutional investors own 77.86% of the company’s stock.
Lincoln National Corporation 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. 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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