Royal Bank Of Canada restated their buy rating on shares of Lincoln National Corporation (NYSE:LNC) in a research note released on Tuesday morning. They currently have a $83.00 target price on the financial services provider’s stock.
LNC has been the subject of a number of other reports. Zacks Investment Research raised shares of Lincoln National Corporation from a hold rating to a buy rating and set a $76.00 price target for the company in a research report on Thursday, August 24th. BidaskClub lowered shares of Lincoln National Corporation from a buy rating to a hold rating in a research report on Thursday, July 27th. Keefe, Bruyette & Woods reissued a hold rating on shares of Lincoln National Corporation in a research report on Monday, June 26th. Morgan Stanley raised their price target on shares of Lincoln National Corporation from $76.00 to $77.00 and gave the stock an equal weight rating in a research report on Thursday, October 5th. Finally, Citigroup Inc. reissued a buy rating and set a $83.00 price target (up from $82.00) on shares of Lincoln National Corporation in a research report on Thursday, September 14th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $77.11.
Shares of Lincoln National Corporation (NYSE:LNC) traded up 0.83% during mid-day trading on Tuesday, hitting $75.47. 190,802 shares of the stock were exchanged. Lincoln National Corporation has a 52-week low of $47.71 and a 52-week high of $76.10. The stock has a 50-day moving average price of $70.95 and a 200 day moving average price of $68.61. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 11.50 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the firm posted $1.56 EPS. Lincoln National Corporation’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts expect that Lincoln National Corporation will post $7.49 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.29 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.55%. Lincoln National Corporation’s dividend payout ratio is currently 17.79%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Azimuth Capital Management LLC grew its stake in Lincoln National Corporation by 0.3% in the 1st quarter. Azimuth Capital Management LLC now owns 7,185 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 25 shares during the period. Stratford Consulting LLC grew its stake in Lincoln National Corporation by 0.4% in the 2nd quarter. Stratford Consulting LLC now owns 6,432 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 27 shares during the period. Savant Capital LLC grew its stake in Lincoln National Corporation by 0.4% in the 2nd quarter. Savant Capital LLC now owns 6,847 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 30 shares during the period. Krilogy Financial LLC grew its stake in Lincoln National Corporation by 1.2% in the 2nd quarter. Krilogy Financial LLC now owns 3,460 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 40 shares during the period. Finally, Financial Architects Inc grew its stake in Lincoln National Corporation by 2.3% in the 2nd quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 68 shares during the period. 79.85% of the stock is currently owned by hedge funds and other institutional investors.
About Lincoln National Corporation
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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