Lincoln National Corporation to Issue Quarterly Dividend of $0.29 (NYSE:LNC)
Lincoln National Corporation (NYSE:LNC) declared a quarterly dividend on Thursday, August 10th, RTT News reports. Investors of record on Tuesday, October 10th will be given a dividend of 0.29 per share by the financial services provider on Wednesday, November 1st. This represents a $1.16 annualized dividend and a yield of 1.57%.
Lincoln National Corporation has raised its dividend payment by an average of 27.7% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Lincoln National Corporation has a payout ratio of 15.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Lincoln National Corporation to earn $7.65 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 15.2%.
Lincoln National Corporation (NYSE:LNC) traded down 1.49% on Thursday, reaching $72.64. The company had a trading volume of 639,021 shares. The stock has a market capitalization of $16.09 billion, a P/E ratio of 11.07 and a beta of 1.99. Lincoln National Corporation has a 12 month low of $44.68 and a 12 month high of $75.78. The firm has a 50-day moving average of $70.43 and a 200-day moving average of $68.14.
Lincoln National Corporation (NYSE:LNC) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.73 by $0.12. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the company posted $1.56 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts expect that Lincoln National Corporation will post $7.45 earnings per share for the current fiscal year.
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In other news, Director Isaiah Tidwell sold 13,946 shares of Lincoln National Corporation stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.41% of the stock is currently owned by insiders.
LNC has been the topic of several research reports. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a research report on Thursday, May 4th. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research report on Monday, June 5th. BidaskClub raised Lincoln National Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Lincoln National Corporation in a research report on Monday, June 26th. Finally, Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research report on Tuesday, July 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $73.40.
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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