Lincoln National Corporation (NYSE:LNC) Receives $47.85 Consensus Price Target from Brokerages

Shares of Lincoln National Corporation (NYSE:LNC) have received a consensus rating of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $47.8462.

Several brokerages have weighed in on LNC. JPMorgan Chase & Co. raised their price target on Lincoln National from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Morgan Stanley upped their price target on shares of Lincoln National from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Bank of America restated a “neutral” rating and issued a $47.00 price objective on shares of Lincoln National in a research report on Thursday, July 30th. Keefe, Bruyette & Woods upped their target price on Lincoln National from $46.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised shares of Lincoln National from a “hold (c)” rating to a “buy (b)” rating in a research note on Monday, August 3rd.

Lincoln National Trading Down 1.5%

NYSE LNC opened at $41.06 on Friday. Lincoln National has a 52 week low of $32.18 and a 52 week high of $47.67. The company has a 50 day moving average price of $43.55 and a 200 day moving average price of $38.58. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62. The firm has a market cap of $7.86 billion, a PE ratio of 3.56, a price-to-earnings-growth ratio of 1.47 and a beta of 1.12.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.28. The company had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. Lincoln National’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $2.36 earnings per share. As a group, sell-side analysts forecast that Lincoln National will post 7.99 EPS for the current fiscal year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be given a $0.45 dividend. The ex-dividend date is Friday, October 9th. This represents a $1.80 annualized dividend and a dividend yield of 4.4%. Lincoln National’s dividend payout ratio (DPR) is 15.60%.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $45.28, for a total value of $498,080.00. Following the transaction, the executive vice president directly owned 119,947 shares of the company’s stock, valued at approximately $5,431,200.16. This trade represents a 8.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary C. Kelly sold 15,007 shares of Lincoln National stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total value of $397,685.50. The disclosure for this sale is available in the SEC filing. 1.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Lincoln National

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wealthstar Advisors LLC acquired a new position in Lincoln National in the 1st quarter valued at $1,183,000. Susquehanna Fundamental Investments LLC grew its holdings in shares of Lincoln National by 557.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 158,004 shares of the financial services provider’s stock worth $5,585,000 after buying an additional 133,973 shares in the last quarter. Sei Investments Co. raised its position in shares of Lincoln National by 9.5% in the first quarter. Sei Investments Co. now owns 522,832 shares of the financial services provider’s stock valued at $18,561,000 after buying an additional 45,549 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Lincoln National by 10.9% in the fourth quarter. Hsbc Holdings PLC now owns 1,360,587 shares of the financial services provider’s stock worth $60,495,000 after buying an additional 133,388 shares in the last quarter. Finally, Bain Capital Prairie LLC purchased a new position in shares of Lincoln National in the fourth quarter worth about $835,360,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

About Lincoln National

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement solutions primarily in the United States. Its businesses are designed to help individuals, employers and institutions manage income protection, long-term financial planning and retirement needs.

The company offers life insurance, annuities and group protection products. Its group protection business includes employer-sponsored life, disability and dental insurance, while its retirement business provides products and services intended to support workplace retirement plans and individual retirement income strategies.

Lincoln traces its origins to the founding of The Lincoln National Life Insurance Company in 1905 and takes its name from President Abraham Lincoln.