Lincoln National Co. (NYSE:LNC) – B. Riley cut their FY2018 earnings estimates for shares of Lincoln National in a research report issued on Tuesday. B. Riley analyst R. Binner now expects that the financial services provider will earn $8.30 per share for the year, down from their prior forecast of $8.55. B. Riley has a “Neutral” rating on the stock.
A number of other research firms also recently commented on LNC. Morgan Stanley increased their target price on Lincoln National from $77.00 to $79.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Deutsche Bank initiated coverage on Lincoln National in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $84.00 price target for the company. Zacks Investment Research downgraded Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada restated a “buy” rating and issued a $86.00 price target on shares of Lincoln National in a research report on Friday, December 8th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $89.00 price target on shares of Lincoln National in a research report on Friday, December 22nd. One 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. Lincoln National currently has an average rating of “Buy” and an average target price of $83.27.
Shares of Lincoln National (NYSE:LNC) opened at $77.58 on Thursday. The company has a current ratio of 0.10, a quick ratio of 0.11 and a debt-to-equity ratio of 0.28. Lincoln National has a fifty-two week low of $61.45 and a fifty-two week high of $86.68. The stock has a market cap of $16,980.00, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 1.14 and a beta of 1.96.
Lincoln National (NYSE:LNC) last released its earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.94 by $0.04. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.65 billion. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS.
Lincoln National announced that its Board of Directors has authorized a stock repurchase program on Friday, January 19th that allows the company to repurchase shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, CFO Randal J. Freitag sold 31,657 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $84.32, for a total transaction of $2,669,318.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Ellen Cooper sold 7,300 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.01, for a total value of $620,573.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,324 shares of company stock valued at $11,961,400. Corporate insiders own 1.12% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of LNC. Eqis Capital Management Inc. purchased a new position in Lincoln National in the third quarter valued at about $227,000. Sit Investment Associates Inc. grew its stake in Lincoln National by 473,333.3% in the third quarter. Sit Investment Associates Inc. now owns 269,857 shares of the financial services provider’s stock valued at $19,829,000 after purchasing an additional 269,800 shares during the last quarter. Shell Asset Management Co. grew its stake in Lincoln National by 198.8% in the third quarter. Shell Asset Management Co. now owns 40,415 shares of the financial services provider’s stock valued at $2,165,000 after purchasing an additional 26,889 shares during the last quarter. PGGM Investments grew its stake in Lincoln National by 2.3% in the third quarter. PGGM Investments now owns 158,924 shares of the financial services provider’s stock valued at $11,678,000 after purchasing an additional 3,585 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Lincoln National by 5.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 589,004 shares of the financial services provider’s stock valued at $43,281,000 after purchasing an additional 30,184 shares during the last quarter. Institutional investors own 80.50% of the company’s stock.
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About Lincoln National
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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