Lincoln National (NYSE:LNC) posted its quarterly earnings results on Thursday. The financial services provider reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.17, Morningstar.com reports. 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 for the quarter, compared to analysts’ expectations of $4.25 billion. During the same period in the previous year, the firm earned $1.87 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year.
Shares of LNC traded up $1.93 during mid-day trading on Friday, hitting $62.99. 138,941 shares of the stock were exchanged, compared to its average volume of 1,844,564. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 8.07 and a beta of 1.96. Lincoln National has a 52-week low of $57.06 and a 52-week high of $86.68. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.19 and a quick ratio of 0.19.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.35%. This is a boost from Lincoln National’s previous quarterly dividend of $0.33. Lincoln National’s dividend payout ratio is 16.94%.
A number of research firms recently commented on LNC. B. Riley boosted their price target on Lincoln National from $79.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, August 7th. Zacks Investment Research cut Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a report on Thursday, July 26th. UBS Group boosted their price target on Lincoln National from $73.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, October 8th. Finally, Barclays decreased their price objective on Lincoln National from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $80.15.
Several institutional investors and hedge funds have recently modified their holdings of LNC. Stratos Wealth Partners LTD. purchased a new stake in Lincoln National during the 3rd quarter valued at $167,000. Signition LP purchased a new stake in Lincoln National during the 3rd quarter valued at $471,000. Victory Capital Management Inc. raised its holdings in Lincoln National by 13.3% during the 3rd quarter. Victory Capital Management Inc. now owns 109,103 shares of the financial services provider’s stock valued at $7,382,000 after buying an additional 12,765 shares during the period. Wedge Capital Management L L P NC raised its holdings in Lincoln National by 4.0% during the 3rd quarter. Wedge Capital Management L L P NC now owns 469,216 shares of the financial services provider’s stock valued at $31,747,000 after buying an additional 18,226 shares during the period. Finally, Pinnacle Financial Partners Inc. raised its holdings in Lincoln National by 3.1% during the 3rd quarter. Pinnacle Financial Partners Inc. now owns 29,143 shares of the financial services provider’s stock valued at $1,972,000 after buying an additional 888 shares during the period. 80.99% of the stock is currently owned by institutional investors and hedge funds.
Lincoln National Company Profile
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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