Lincoln National Co. (NYSE:LNC) was the target of some unusual options trading on Monday. Stock traders acquired 3,500 call options on the stock. This is an increase of 1,334% compared to the average volume of 244 call options.
Shares of Lincoln National (LNC) traded down $2.87 during trading on Friday, reaching $83.04. The company’s stock had a trading volume of 1,686,756 shares, compared to its average volume of 1,474,294. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.30. Lincoln National has a 12-month low of $61.45 and a 12-month high of $86.68. The firm has a market capitalization of $18,430.00, a PE ratio of 8.99, a PEG ratio of 1.12 and a beta of 1.96.
Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Wednesday, January 31st. The financial services provider reported $1.98 EPS for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.04. Lincoln National had a return on equity of 11.13% and a net margin of 14.48%. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the firm posted $1.77 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. analysts expect that Lincoln National will post 8.54 earnings per share for the current fiscal year.
Lincoln National declared that its Board of Directors has initiated a stock buyback plan on Friday, January 19th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several research firms recently weighed in on LNC. Barclays reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Lincoln National in a research note on Tuesday, January 9th. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Monday, January 8th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $89.00 target price on shares of Lincoln National in a research report on Friday, December 22nd. Royal Bank of Canada reiterated a “buy” rating and issued a $86.00 target price on shares of Lincoln National in a research report on Friday, December 8th. Finally, Deutsche Bank initiated coverage on Lincoln National in a research report on Tuesday, January 2nd. They set a “buy” rating and a $84.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $83.27.
Large investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky boosted its position in shares of Lincoln National by 84.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 544,208 shares of the financial services provider’s stock valued at $36,777,000 after buying an additional 248,800 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Lincoln National in the second quarter worth $1,759,000. First Merchants Corp purchased a new position in Lincoln National in the third quarter worth $735,000. Csenge Advisory Group purchased a new position in Lincoln National in the third quarter worth $272,000. Finally, Twin Capital Management Inc. boosted its position in Lincoln National by 8.5% in the third quarter. Twin Capital Management Inc. now owns 201,505 shares of the financial services provider’s stock worth $14,806,000 after purchasing an additional 15,803 shares during the last quarter. 80.54% of the stock is currently owned by institutional investors.
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Lincoln National 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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