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.

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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.

Analyst Recommendations for Lincoln National Corporation (NYSE:LNC)

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