Lincoln National Corp. (NYSE:LNC) had its price objective hoisted by FBR & Co from $55.00 to $63.00 in a report issued on Monday morning. They currently have a mkt perform rating on the stock.
A number of other research analysts have also weighed in on the company. Wells Fargo & Co. assumed coverage on Lincoln National Corp. in a report on Friday, September 23rd. They set a market perform rating on the stock. Zacks Investment Research raised Lincoln National Corp. from a hold rating to a buy rating and set a $70.00 price objective on the stock in a report on Monday, November 21st. Finally, Credit Suisse Group AG assumed coverage on Lincoln National Corp. in a report on Friday, October 7th. They set a neutral rating and a $57.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Lincoln National Corp. currently has a consensus rating of Buy and an average price target of $53.50.
Lincoln National Corp. (NYSE:LNC) opened at 63.15 on Monday. The stock’s 50 day moving average price is $54.03 and its 200 day moving average price is $46.85. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 11.93 and a beta of 1.99. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $64.71.
Lincoln National Corp. (NYSE:LNC) last released its earnings results on Thursday, November 3rd. The company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.28. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.43 billion. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. Analysts forecast that Lincoln National Corp. will post $6.35 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be given a $0.29 dividend. This is an increase from Lincoln National Corp.’s previous quarterly dividend of $0.25. This represents a $1.16 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Friday, January 6th. Lincoln National Corp.’s dividend payout ratio is currently 18.83%.
In related news, CAO Christine A. Janofsky sold 1,025 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $60.11, for a total transaction of $61,612.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dennis R. Glass sold 349,532 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $52.01, for a total value of $18,179,159.32. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Lincoln National Corp. during the second quarter valued at $84,522,000. Bloom Tree Partners LLC acquired a new position in Lincoln National Corp. during the third quarter valued at $37,376,000. Lord Abbett & CO. LLC increased its position in Lincoln National Corp. by 114.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,224,586 shares of the company’s stock valued at $47,477,000 after buying an additional 652,965 shares during the period. Hexavest Inc. acquired a new position in Lincoln National Corp. during the second quarter valued at $24,262,000. Finally, Scout Investments Inc. acquired a new position in Lincoln National Corp. during the third quarter valued at $26,758,000. Hedge funds and other institutional investors own 77.97% of the company’s stock.
About Lincoln National Corp.