Lincoln National Corporation (LNC) Receives Buy Rating from Citigroup Inc.
Citigroup Inc. restated their buy rating on shares of Lincoln National Corporation (NYSE:LNC) in a research report sent to investors on Thursday. The brokerage currently has a $83.00 price objective on the financial services provider’s stock, up from their prior price objective of $82.00.
LNC has been the topic of several other reports. Zacks Investment Research raised Lincoln National Corporation from a hold rating to a buy rating and set a $76.00 price target on the stock in a research note on Thursday, August 24th. Bank of America Corporation set a $78.00 price target on Lincoln National Corporation in a research note on Tuesday, July 4th. Royal Bank Of Canada boosted their price target on Lincoln National Corporation from $77.00 to $83.00 and gave the company an outperform rating in a research note on Friday, August 4th. Wells Fargo & Company reissued a hold rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. Finally, BidaskClub lowered Lincoln National Corporation from a buy rating to a hold rating in a research note on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $73.80.
Lincoln National Corporation (NYSE LNC) traded up 0.62% during mid-day trading on Thursday, reaching $69.61. The company had a trading volume of 1,815,355 shares. The firm has a market capitalization of $15.41 billion, a P/E ratio of 10.60 and a beta of 1.98. The firm’s 50-day moving average is $69.94 and its 200-day moving average is $67.89. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the firm earned $1.56 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts anticipate that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This article was originally posted by Daily Political and is the property of of Daily Political. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://www.dailypolitical.com/2017/09/15/lincoln-national-corporation-lnc-receives-buy-rating-from-citigroup-inc.html.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. Lincoln National Corporation’s dividend payout ratio is 17.79%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LNC. BlackRock Inc. increased its holdings in shares of Lincoln National Corporation by 2,922.6% during the first quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock valued at $1,205,509,000 after acquiring an additional 17,809,394 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Lincoln National Corporation by 5.6% during the first quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock valued at $1,497,782,000 after acquiring an additional 1,215,192 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Lincoln National Corporation by 3,936.0% during the second quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock valued at $80,862,000 after acquiring an additional 1,166,893 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Lincoln National Corporation by 158.6% during the first quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock valued at $105,528,000 after acquiring an additional 988,753 shares in the last quarter. Finally, Janus Capital Management LLC increased its holdings in shares of Lincoln National Corporation by 3,586.0% during the first quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock valued at $64,817,000 after acquiring an additional 963,456 shares in the last quarter. Hedge funds and other institutional investors own 79.87% 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. 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.
Receive News & Ratings for Lincoln National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National Corporation and related companies with MarketBeat.com's FREE daily email newsletter.