Lincoln National Corp. (LNC) Stock Price Up 4.5%
Lincoln National Corp. (NYSE:LNC)’s share price rose 4.5% during mid-day trading on Thursday . The stock traded as high as $42.89 and last traded at $42.82, with a volume of 1,675,581 shares trading hands. The stock had previously closed at $40.96.
LNC has been the subject of several analyst reports. Zacks Investment Research raised shares of Lincoln National Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, April 13th. FBR & Co reaffirmed a “buy” rating on shares of Lincoln National Corp. in a research note on Friday, June 10th. Deutsche Bank AG dropped 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 research note on Thursday, July 7th. Macquarie downgraded shares of Lincoln National Corp. from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 14th. Finally, Citigroup Inc. lowered their target price on shares of Lincoln National Corp. from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lincoln National Corp. presently has a consensus rating of “Hold” and an average price target of $53.56.
The firm’s 50-day moving average price is $41.93 and its 200-day moving average price is $40.96. The stock has a market cap of $10.25 billion and a P/E ratio of 10.23.
Lincoln National Corp. (NYSE:LNC) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.49 by $0.24. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.44 billion. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 EPS. On average, equities research analysts predict that Lincoln National Corp. will post $6.11 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Monday, July 11th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Thursday, July 7th.
In other news, insider Mark E. Konen sold 16,000 shares of the stock in a transaction that occurred on 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 owns 113,067 shares in the company, valued at approximately $5,116,281.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Other institutional investors have modified their holdings of the company. Wells Fargo & Company MN boosted its position in shares of Lincoln National Corp. by 10.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,854,434 shares of the company’s stock valued at $93,205,000 after buying an additional 168,865 shares during the period. Winton Capital Group Ltd boosted its stake in Lincoln National Corp. by 19.7% in the fourth quarter. Winton Capital Group Ltd now owns 1,414,457 shares of the company’s stock worth $71,091,000 after buying an additional 233,130 shares during the last quarter. Cornercap Investment Counsel Inc. boosted its stake in Lincoln National Corp. by 1.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 159,961 shares of the company’s stock worth $8,040,000 after buying an additional 1,977 shares during the last quarter. Comerica Bank boosted its stake in Lincoln National Corp. by 5.5% in the fourth quarter. Comerica Bank now owns 152,449 shares of the company’s stock worth $6,744,000 after buying an additional 8,000 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Lincoln National Corp. by 73.4% in the fourth quarter. Bank of Montreal Can now owns 2,236,419 shares of the company’s stock worth $112,401,000 after buying an additional 946,844 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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