Analysts Set Lincoln National Corporation (LNC) Target Price at $73.63
Lincoln National Corporation (NYSE:LNC) has been assigned an average rating of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $73.63.
A number of research firms have weighed in on LNC. Bank of America Corporation set a $78.00 target price on Lincoln National Corporation in a research report on Tuesday, July 4th. BidaskClub downgraded Lincoln National Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Tuesday, August 8th. Citigroup Inc. restated a “buy” rating and issued a $83.00 target price (up from $82.00) on shares of Lincoln National Corporation in a research report on Thursday, September 14th. Finally, Keefe, Bruyette & Woods restated a “hold” rating on shares of Lincoln National Corporation in a research report on Monday, June 26th.
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Shares of Lincoln National Corporation (NYSE:LNC) traded up 0.58% during trading on Friday, hitting $74.20. The stock had a trading volume of 910,009 shares. The firm’s 50-day moving average is $69.77 and its 200-day moving average is $68.14. Lincoln National Corporation has a one year low of $47.36 and a one year high of $75.78. The firm has a market cap of $16.43 billion, a P/E ratio of 11.30 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.56 billion. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.56 earnings per share. Equities research analysts forecast that Lincoln National Corporation will post $7.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.29 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.16 annualized dividend and a dividend yield of 1.56%. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
Several hedge funds and other institutional investors have recently bought and sold shares of LNC. BlackRock Inc. increased its holdings in shares of Lincoln National Corporation by 2,922.6% in the first quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock valued at $1,205,509,000 after buying an additional 17,809,394 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Lincoln National Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock valued at $1,497,782,000 after buying an additional 1,215,192 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Lincoln National Corporation by 3,936.0% in the second quarter. Janus Henderson Group PLC now owns 1,196,540 shares of the financial services provider’s stock valued at $80,862,000 after buying an additional 1,166,893 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Lincoln National Corporation by 158.6% in the first quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock valued at $105,528,000 after buying an additional 988,753 shares in the last quarter. Finally, Janus Capital Management LLC increased its holdings in shares of Lincoln National Corporation by 3,586.0% in the first quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock valued at $64,817,000 after buying an additional 963,456 shares in the last quarter. 79.85% of the stock is currently owned by institutional investors.
About Lincoln National Corporation
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. The Company 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 on 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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