Lincoln National Co. (NYSE:LNC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $64.09 and last traded at $64.51, with a volume of 62518 shares. The stock had previously closed at $64.88.
Several equities research analysts have recently issued reports on the stock. Barclays assumed coverage on shares of Lincoln National in a research note on Friday, May 11th. They issued an “overweight” rating and a $88.00 price objective on the stock. ValuEngine cut Lincoln National from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Royal Bank of Canada reduced their target price on Lincoln National to $84.00 and set an “outperform” rating for the company in a research report on Friday, May 4th. They noted that the move was a valuation call. Finally, Deutsche Bank reduced their target price on Lincoln National from $96.00 to $87.00 and set a “buy” rating for the company in a research report on Friday, May 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $82.77.
The firm has a market cap of $14.30 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 0.97 and a beta of 1.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.11 and a quick ratio of 0.11.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.94 by $0.03. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Lincoln National had a return on equity of 10.69% and a net margin of 13.90%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $1.92 earnings per share. equities analysts anticipate that Lincoln National Co. will post 8.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th will be issued a dividend of $0.33 per share. The ex-dividend date is Monday, July 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.05%. Lincoln National’s payout ratio is presently 16.94%.
In related news, Director Deirdre P. Connelly acquired 1,000 shares of the business’s stock in a transaction on Friday, May 4th. The stock was bought at an average cost of $67.09 per share, with a total value of $67,090.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $67,090. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.12% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Lincoln National by 90.6% during the first quarter. JPMorgan Chase & Co. now owns 5,848,793 shares of the financial services provider’s stock valued at $427,315,000 after acquiring an additional 2,779,947 shares during the period. LSV Asset Management raised its holdings in shares of Lincoln National by 1.8% in the first quarter. LSV Asset Management now owns 5,523,866 shares of the financial services provider’s stock valued at $403,573,000 after buying an additional 96,991 shares during the last quarter. Lyrical Asset Management LP raised its holdings in shares of Lincoln National by 2.5% in the fourth quarter. Lyrical Asset Management LP now owns 4,417,721 shares of the financial services provider’s stock valued at $339,590,000 after buying an additional 109,845 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Lincoln National by 2.0% in the first quarter. Neuberger Berman Group LLC now owns 4,074,272 shares of the financial services provider’s stock valued at $297,666,000 after buying an additional 80,452 shares during the last quarter. Finally, Viking Global Investors LP raised its holdings in shares of Lincoln National by 119.3% in the fourth quarter. Viking Global Investors LP now owns 2,182,923 shares of the financial services provider’s stock valued at $167,801,000 after buying an additional 1,187,323 shares during the last quarter. 80.40% of the stock is owned by institutional investors.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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