Lincoln National Corporation (LNC) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Lincoln National Corporation (NYSE:LNC) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday. They currently have $81.00 price objective on the financial services provider’s stock.
According to Zacks, “Lincoln National is well positioned for long-term growth, given its focus on reducing exposure to businesses with long-term guarantee. Its strong capital position is another positive. The company is prudent in managing its capital which has led to an improvement in book value. Over last one year, the shares have gained 79% outperforming the Zacks categorized Life Insurance industry that increased only by 45%. However, the company’s growth has been restricted by economic volatility, intense competition the still-low interest rate environment that has weakened net flows, annuities and investment yields.”
Several other research firms also recently weighed in on LNC. Keefe, Bruyette & Woods reiterated a hold rating and issued a $75.00 target price on shares of Lincoln National Corporation in a research note on Tuesday, March 21st. Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Wells Fargo & Company reiterated a hold rating on shares of Lincoln National Corporation in a research note on Thursday, May 4th. Finally, BidaskClub upgraded shares of Lincoln National Corporation from a sell rating to a hold rating in a research note on Saturday, June 10th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $72.60.
Shares of Lincoln National Corporation (LNC) opened at 71.34 on Tuesday. Lincoln National Corporation has a one year low of $42.13 and a one year high of $73.31. The company has a market cap of $16.00 billion, a P/E ratio of 11.70 and a beta of 1.98. The company’s 50 day moving average is $66.30 and its 200 day moving average is $67.21.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.30. Lincoln National Corporation had a net margin of 10.43% and a return on equity of 10.70%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Lincoln National Corporation will post $7.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, July 6th. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 19.14%.
In related news, Director Michael F. Mee sold 30,173 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $68.32, for a total value of $2,061,419.36. Following the transaction, the director now owns 6,336 shares in the company, valued at approximately $432,875.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Isaiah Tidwell sold 13,946 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $65.04, for a total transaction of $907,047.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,693 shares of company stock worth $3,899,915. Company insiders own 1.41% of the company’s stock.
A number of institutional investors have recently bought and sold shares of LNC. Vanguard Group Inc. boosted its position in 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. BlackRock Inc. raised its stake in 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 during the last quarter. Neuberger Berman Group LLC raised its stake in Lincoln National Corporation by 16.7% in the first quarter. Neuberger Berman Group LLC now owns 4,483,836 shares of the financial services provider’s stock valued at $293,467,000 after buying an additional 640,510 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Lincoln National Corporation by 104.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,086,835 shares of the financial services provider’s stock valued at $204,564,000 after buying an additional 1,575,438 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Lincoln National Corporation by 40.2% in the first quarter. JPMorgan Chase & Co. now owns 2,679,809 shares of the financial services provider’s stock valued at $175,392,000 after buying an additional 768,184 shares during the last quarter. Institutional investors and hedge funds own 79.85% of the company’s stock.
Lincoln National Corporation Company Profile
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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