Lincoln National Co. (NYSE:LNC) announced a quarterly dividend on Thursday, November 1st, RTT News reports. Stockholders of record on Thursday, January 10th will be paid a dividend of 0.37 per share by the financial services provider on Friday, February 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Lincoln National’s previous quarterly dividend of $0.33.
Lincoln National has raised its dividend payment by an average of 21.9% annually over the last three years and has raised its dividend every year for the last 7 years. Lincoln National has a dividend payout ratio of 15.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lincoln National to earn $9.33 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%.
Shares of NYSE:LNC opened at $61.06 on Friday. Lincoln National has a 12-month low of $57.06 and a 12-month high of $86.68. The company has a market cap of $12.76 billion, a PE ratio of 7.84 and a beta of 1.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.19 and a quick ratio of 0.19.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.17. Lincoln National had a return on equity of 11.04% and a net margin of 13.31%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.25 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. The business’s revenue was up 21.4% on a year-over-year basis. As a group, sell-side analysts predict that Lincoln National will post 8.4 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on LNC shares. Barclays reduced their price objective on Lincoln National from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Monday, July 9th. Morgan Stanley reduced their price objective on Lincoln National from $79.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, July 11th. B. Riley reduced their price objective on Lincoln National from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Monday, July 16th. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Finally, ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.15.
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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