Lincoln National Co. (NYSE:LNC) announced a quarterly dividend on Wednesday, February 21st, RTT News reports. Investors of record on Tuesday, April 10th will be given a dividend of 0.33 per share by the financial services provider on Tuesday, May 1st. This represents a $1.32 annualized dividend and a yield of 1.69%.
Lincoln National has raised its dividend payment by an average of 21.9% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Lincoln National has a dividend payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lincoln National to earn $9.34 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 14.1%.
Lincoln National (LNC) traded down $0.13 during trading on Thursday, reaching $78.19. 407,046 shares of the company traded hands, compared to its average volume of 1,530,617. Lincoln National has a 12-month low of $61.45 and a 12-month high of $86.68. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.10 and a quick ratio of 0.11. The firm has a market cap of $17,075.26, a P/E ratio of 8.48, a PEG ratio of 1.15 and a beta of 1.96.
Lincoln National (NYSE:LNC) last posted its earnings results on Wednesday, January 31st. The financial services provider reported $1.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.94 by $0.04. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the firm earned $1.77 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. research analysts predict that Lincoln National will post 8.5 earnings per share for the current year.
Several equities analysts have commented on LNC shares. Morgan Stanley boosted their price target on shares of Lincoln National from $77.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. B. Riley restated a “neutral” rating on shares of Lincoln National in a research note on Monday, November 6th. ValuEngine downgraded shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Wells Fargo & Co set a $80.00 price target on shares of Lincoln National and gave the stock a “hold” rating in a research note on Thursday, November 16th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $86.00 price target on shares of Lincoln National in a research note on Friday, December 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $83.27.
Lincoln National declared that its board has approved a stock buyback 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. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In related news, CEO Dennis R. Glass sold 102,367 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.71, for a total value of $8,671,508.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ellen Cooper sold 7,300 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.01, for a total transaction of $620,573.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,324 shares of company stock valued at $11,961,400. Corporate insiders own 1.12% 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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