Royal Bank Of Canada Increases Lincoln National Corporation (LNC) Price Target to $83.00
Lincoln National Corporation (NYSE:LNC) had its price objective upped by Royal Bank Of Canada from $77.00 to $83.00 in a research note released on Friday morning, MarketBeat reports. The firm currently has an outperform rating on the financial services provider’s stock.
LNC has been the topic of several other research reports. Zacks Investment Research raised Lincoln National Corporation from a hold rating to a strong-buy rating and set a $81.00 price target on the stock in a report on Tuesday, July 11th. Bank of America Corporation set a $78.00 price target on Lincoln National Corporation in a report on Tuesday, July 4th. Wells Fargo & Company reissued a hold rating on shares of Lincoln National Corporation in a report on Thursday, May 4th. BidaskClub downgraded Lincoln National Corporation from a buy rating to a hold rating in a report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reissued a hold rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $73.20.
Shares of Lincoln National Corporation (NYSE LNC) opened at 73.97 on Friday. The stock’s 50 day moving average price is $69.49 and its 200 day moving average price is $67.84. The stock has a market cap of $16.66 billion, a PE ratio of 11.33 and a beta of 1.99. Lincoln National Corporation has a 1-year low of $43.54 and a 1-year high of $74.52.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.56 billion. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.56 EPS. On average, equities research analysts anticipate that Lincoln National Corporation will post $7.43 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Thursday, July 6th. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 17.79%.
In other news, Director Michael F. Mee sold 30,173 shares of Lincoln National Corporation stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $68.32, for a total transaction of $2,061,419.36. Following the transaction, the director now directly owns 6,336 shares in the company, valued at approximately $432,875.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Isaiah Tidwell sold 13,946 shares of Lincoln National Corporation stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total value of $907,047.84. The disclosure for this sale can be found here. 1.41% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Lincoln National Corporation by 2,922.6% in the first quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock worth $1,205,509,000 after buying an additional 17,809,394 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Lincoln National Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock worth $1,497,782,000 after buying an additional 1,215,192 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Lincoln National Corporation by 158.6% in the first quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock worth $105,528,000 after buying an additional 988,753 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Lincoln National Corporation by 3,586.0% in the first quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock worth $64,817,000 after buying an additional 963,456 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Lincoln National Corporation by 207.0% in the second quarter. Acadian Asset Management LLC now owns 1,269,347 shares of the financial services provider’s stock worth $85,784,000 after buying an additional 855,930 shares during the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.
About Lincoln National Corporation
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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