Lincoln National Corp. (NYSE:LNC) had its price objective boosted by equities researchers at FBR & Co from $55.00 to $63.00 in a research report issued to clients and investors on Monday, StockTargetPrices.com reports. The firm presently has a “mkt perform” rating on the stock. FBR & Co’s price target would indicate a potential downside of 1.79% from the company’s current price.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut Lincoln National Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Credit Suisse Group AG began coverage on Lincoln National Corp. in a report on Friday, October 7th. They set a “neutral” rating and a $57.00 price target on the stock. Finally, Wells Fargo & Co. began coverage on Lincoln National Corp. in a report on Friday, September 23rd. They set a “market perform” rating on the stock. Eight investment 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 a consensus target price of $53.50.
Lincoln National Corp. (NYSE:LNC) opened at 64.15 on Monday. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 12.12 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. The firm’s 50-day moving average price is $53.62 and its 200-day moving average price is $46.65.
Lincoln National Corp. (NYSE:LNC) last released its earnings results on Thursday, November 3rd. The company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.28. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts predict 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 paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, January 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.81%. This is an increase from Lincoln National Corp.’s previous quarterly dividend of $0.25. Lincoln National Corp.’s dividend payout ratio (DPR) is 18.83%.
In other news, EVP Lisa Buckingham sold 12,881 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total value of $621,637.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark E. Konen sold 154,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $58.62, for a total value of $9,027,480.00. Following the completion of the transaction, the insider now directly owns 190,411 shares in the company, valued at approximately $11,161,892.82. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Barnett & Company Inc. acquired a new stake in Lincoln National Corp. during the first quarter valued at about $104,000. Capital Analysts LLC boosted its stake in Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock valued at $106,000 after buying an additional 594 shares in the last quarter. Global X Management Co. LLC boosted its stake in Lincoln National Corp. by 98.6% in the third quarter. Global X Management Co. LLC now owns 2,324 shares of the company’s stock valued at $109,000 after buying an additional 1,154 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in Lincoln National Corp. during the second quarter valued at about $127,000. Finally, Societe Generale acquired a new stake in Lincoln National Corp. during the second quarter valued at about $132,000. Hedge funds and other institutional investors own 77.97% of the company’s stock.
About Lincoln National Corp.
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. It 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 in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.