Lincoln National Corp. (LNC) Price Target Raised to $63.00 at FBR & Co
A number of other research analysts have also weighed in on the company. Wells Fargo & Co. assumed coverage on Lincoln National Corp. in a report on Friday, September 23rd. They set a market perform rating on the stock. Zacks Investment Research raised Lincoln National Corp. from a hold rating to a buy rating and set a $70.00 price objective on the stock in a report on Monday, November 21st. Finally, Credit Suisse Group AG assumed coverage on Lincoln National Corp. in a report on Friday, October 7th. They set a neutral rating and a $57.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Lincoln National Corp. currently has a consensus rating of Buy and an average price target of $53.50.
Lincoln National Corp. (NYSE:LNC) opened at 63.15 on Monday. The stock’s 50 day moving average price is $54.03 and its 200 day moving average price is $46.85. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 11.93 and a beta of 1.99. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $64.71.
Lincoln National Corp. (NYSE:LNC) last released its earnings results on Thursday, November 3rd. The company reported $1.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.28. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.43 billion. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. Analysts forecast that Lincoln National Corp. will post $6.35 EPS for the current fiscal year.
WARNING: This piece was originally published by Financial Market News and is owned by of Financial Market News. If you are viewing this piece on another website, it was stolen and republished in violation of U.S. and international copyright laws. The original version of this piece can be read at http://www.financial-market-news.com/lincoln-national-corp-lnc-price-target-raised-to-63-00-at-fbr-co/1208174/.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be given a $0.29 dividend. This is an increase from Lincoln National Corp.’s previous quarterly dividend of $0.25. This represents a $1.16 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Friday, January 6th. Lincoln National Corp.’s dividend payout ratio is currently 18.83%.
In related news, CAO Christine A. Janofsky sold 1,025 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $60.11, for a total transaction of $61,612.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dennis R. Glass sold 349,532 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $52.01, for a total value of $18,179,159.32. The disclosure for this sale can be found here. 1.41% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Lincoln National Corp. during the second quarter valued at $84,522,000. Bloom Tree Partners LLC acquired a new position in Lincoln National Corp. during the third quarter valued at $37,376,000. Lord Abbett & CO. LLC increased its position in Lincoln National Corp. by 114.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,224,586 shares of the company’s stock valued at $47,477,000 after buying an additional 652,965 shares during the period. Hexavest Inc. acquired a new position in Lincoln National Corp. during the second quarter valued at $24,262,000. Finally, Scout Investments Inc. acquired a new position in Lincoln National Corp. during the third quarter valued at $26,758,000. Hedge funds and other institutional investors own 77.97% of the company’s stock.
About Lincoln National Corp.
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. It 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 in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
Receive News & Ratings for Lincoln National Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National Corp. and related companies with MarketBeat.com's FREE daily email newsletter.