Lincoln National Corporation (NYSE:LNC – Get Free Report) has been assigned an average rating of “Hold” from the sixteen brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $46.4286.
A number of brokerages have commented on LNC. Morgan Stanley reduced their target price on Lincoln National from $43.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Weiss Ratings lowered Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research report on Monday, May 11th. TD Cowen increased their target price on Lincoln National from $37.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. UBS Group lifted their price objective on Lincoln National from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company upped their target price on shares of Lincoln National from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 9th.
View Our Latest Report on Lincoln National
Lincoln National Price Performance
Lincoln National (NYSE:LNC – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the business posted $2.36 earnings per share. The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, research analysts predict that Lincoln National will post 7.8 EPS for the current fiscal year.
Lincoln National Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were given a $0.45 dividend. The ex-dividend date was Friday, July 10th. This represents a $1.80 annualized dividend and a yield of 3.9%. Lincoln National’s dividend payout ratio is 15.60%.
Insider Activity at Lincoln National
In other news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the completion of the sale, the executive vice president owned 103,906 shares in the company, valued at approximately $3,579,561.70. This represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.03% of the company’s stock.
Institutional Trading of Lincoln National
Hedge funds have recently added to or reduced their stakes in the stock. Bain Capital Prairie LLC acquired a new position in shares of Lincoln National in the fourth quarter valued at approximately $835,360,000. Dimensional Fund Advisors LP lifted its holdings in shares of Lincoln National by 24.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider’s stock worth $275,304,000 after purchasing an additional 1,522,179 shares during the period. State Street Corp lifted its holdings in shares of Lincoln National by 0.7% during the second quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock worth $214,504,000 after purchasing an additional 40,676 shares during the period. Jennison Associates LLC grew its position in Lincoln National by 3.9% in the 1st quarter. Jennison Associates LLC now owns 3,823,152 shares of the financial services provider’s stock valued at $135,722,000 after buying an additional 141,994 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Lincoln National by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,959,195 shares of the financial services provider’s stock valued at $131,801,000 after buying an additional 14,842 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.
About Lincoln National
Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.
The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.
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