Citigroup Inc. reiterated their buy rating on shares of Lincoln National Corporation (NYSE:LNC) in a research note published on Thursday morning. Citigroup Inc. currently has a $83.00 target price on the financial services provider’s stock, up from their prior target price of $82.00.
Several other analysts have also recently issued reports on LNC. Zacks Investment Research upgraded shares of Lincoln National Corporation from a hold rating to a buy rating and set a $75.00 target price on the stock in a research report on Monday, June 5th. Wells Fargo & Company restated a hold rating on shares of Lincoln National Corporation in a research report on Thursday, June 8th. BidaskClub upgraded shares of Lincoln National Corporation from a sell rating to a hold rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods restated a hold rating on shares of Lincoln National Corporation in a research report on Monday, June 26th. Finally, Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a research report on Tuesday, July 4th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Lincoln National Corporation presently has an average rating of Hold and an average target price of $73.80.
Lincoln National Corporation (LNC) opened at 69.61 on Thursday. The company has a market capitalization of $15.41 billion, a PE ratio of 10.60 and a beta of 1.98. The stock’s 50 day moving average price is $69.86 and its 200-day moving average price is $67.88. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78.
Lincoln National Corporation (NYSE:LNC) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.12. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 EPS. On average, equities research analysts predict that Lincoln National Corporation will post $7.47 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.16 annualized dividend and a yield of 1.67%. Lincoln National Corporation’s payout ratio is 17.79%.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Lincoln National Corporation by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 23,649,087 shares of the financial services provider’s stock valued at $1,598,205,000 after purchasing an additional 764,714 shares during the last quarter. BlackRock Inc. grew its holdings in Lincoln National Corporation by 1.9% during the 2nd quarter. BlackRock Inc. now owns 18,774,399 shares of the financial services provider’s stock valued at $1,268,774,000 after purchasing an additional 355,633 shares during the last quarter. FMR LLC grew its holdings in Lincoln National Corporation by 1.3% during the 2nd quarter. FMR LLC now owns 7,470,115 shares of the financial services provider’s stock valued at $504,830,000 after purchasing an additional 95,605 shares during the last quarter. LSV Asset Management grew its holdings in Lincoln National Corporation by 3.8% during the 2nd quarter. LSV Asset Management now owns 5,157,271 shares of the financial services provider’s stock valued at $348,528,000 after purchasing an additional 187,800 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Lincoln National Corporation by 16.7% during the 1st quarter. Neuberger Berman Group LLC now owns 4,483,836 shares of the financial services provider’s stock valued at $293,467,000 after purchasing an additional 640,510 shares during the last quarter. Institutional investors own 79.87% 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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