Stock analysts at Credit Suisse Group AG started coverage on shares of Lincoln National Corp. (NYSE:LNC) in a research report issued on Friday, The Fly reports. The firm set a “neutral” rating on the stock.
LNC has been the subject of a number of other reports. FBR & Co reissued a “buy” rating on shares of Lincoln National Corp. in a report on Friday, June 10th. Morgan Stanley reissued a “buy” rating on shares of Lincoln National Corp. in a report on Friday, June 10th. Bank of America Corp. lowered Lincoln National Corp. from a “buy” rating to a “neutral” rating in a report on Wednesday, June 29th. Evercore ISI began coverage on Lincoln National Corp. in a report on Wednesday, July 6th. They set a “buy” rating and a $47.00 price objective for the company. Finally, Citigroup Inc. decreased their price objective on Lincoln National Corp. from $46.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lincoln National Corp. has an average rating of “Hold” and a consensus target price of $52.36.
Shares of Lincoln National Corp. (NYSE:LNC) opened at 49.20 on Friday. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $57.54. The company’s 50-day moving average price is $46.89 and its 200 day moving average price is $43.53. The firm has a market capitalization of $11.45 billion, a PE ratio of 11.79 and a beta of 2.04.
Lincoln National Corp. (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by $0.02. Lincoln National Corp. had a return on equity of 9.27% and a net margin of 7.71%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the company posted $1.46 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that Lincoln National Corp. will post $6.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, October 5th. Lincoln National Corp.’s dividend payout ratio (DPR) is 23.92%.
In other Lincoln National Corp. news, Director Patrick S. Pittard sold 10,382 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $46.67, for a total transaction of $484,527.94. Following the sale, the director now owns 13,115 shares in the company, valued at $612,077.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lisa Buckingham sold 12,881 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $48.26, for a total value of $621,637.06. The disclosure for this sale can be found here. Company insiders own 1.41% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Lincoln National Corp. by 1.3% in the second quarter. Vanguard Group Inc. now owns 21,063,183 shares of the company’s stock valued at $816,621,000 after buying an additional 267,632 shares in the last quarter. State Street Corp increased its stake in Lincoln National Corp. by 0.3% in the first quarter. State Street Corp now owns 10,674,434 shares of the company’s stock valued at $418,428,000 after buying an additional 26,958 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Lincoln National Corp. by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,990,933 shares of the company’s stock valued at $313,245,000 after buying an additional 232,131 shares in the last quarter. Prudential PLC increased its stake in Lincoln National Corp. by 30.6% in the first quarter. Prudential PLC now owns 4,098,900 shares of the company’s stock valued at $160,677,000 after buying an additional 960,600 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Lincoln National Corp. during the second quarter valued at about $84,522,000. Hedge funds and other institutional investors own 78.68% 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.
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