UBS Group Begins Coverage on Lincoln National (LNC)
UBS Group started coverage on shares of Lincoln National (NYSE:LNC) in a report issued on Friday morning, www.benzinga.com reports. The firm issued a neutral rating and a $84.00 price objective on the financial services provider’s stock.
LNC has been the topic of several other research reports. Wells Fargo & Co set a $80.00 price target on shares of Lincoln National and gave the stock a hold rating in a research note on Thursday, November 16th. ValuEngine cut shares of Lincoln National from a strong-buy rating to a buy rating in a research note on Thursday, November 9th. Barclays reiterated a buy rating and issued a $90.00 price target on shares of Lincoln National in a research note on Tuesday, January 9th. JPMorgan Chase & Co. upgraded shares of Lincoln National from a neutral rating to an overweight rating and set a $87.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $89.00 price target on shares of Lincoln National in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $83.33.
Shares of Lincoln National (NYSE:LNC) opened at $73.73 on Friday. The company has a market cap of $16,092.16, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 1.08 and a beta of 1.97. Lincoln National has a one year low of $61.45 and a one year high of $86.68. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.28.
Lincoln National announced that its board has authorized a share repurchase program on Friday, January 19th that allows the company to repurchase outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.79%. Lincoln National’s dividend payout ratio (DPR) is presently 14.29%.
In related news, CEO Dennis R. Glass sold 102,367 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $84.71, for a total transaction of $8,671,508.57. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth S. Solon sold 1,875 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $78.53, for a total transaction of $147,243.75. Following the transaction, the executive vice president now owns 148,067 shares in the company, valued at $11,627,701.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,199 shares of company stock worth $12,108,644. Insiders own 1.12% of the company’s stock.
A number of large investors have recently modified their holdings of LNC. Rowland & Co. Investment Counsel ADV bought a new position in Lincoln National during the 4th quarter valued at about $108,000. Cerebellum GP LLC bought a new position in Lincoln National during the 4th quarter valued at about $123,000. Resources Investment Advisors Inc. grew its holdings in Lincoln National by 125.0% during the 4th quarter. Resources Investment Advisors Inc. now owns 1,800 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 1,000 shares during the last quarter. Focused Wealth Management Inc bought a new position in Lincoln National during the 4th quarter valued at about $169,000. Finally, Valeo Financial Advisors LLC bought a new position in Lincoln National during the 3rd quarter valued at about $171,000. Institutional investors own 79.29% of the company’s stock.
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Lincoln National 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.
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