Lincoln National Co. (NYSE:LNC) Receives $60.79 Average PT from Brokerages

Shares of Lincoln National Co. (NYSE:LNC) have been given a consensus recommendation of “Hold” by the sixteen analysts that are currently covering the firm, MarketBeat.Com reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $60.79.

LNC has been the topic of a number of research analyst reports. Goldman Sachs upgraded shares of Lincoln National from a “neutral” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Thursday, September 10th. Piper Jaffray upgraded shares of Lincoln National from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $66.00 to $62.00 in a research note on Tuesday, September 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a “hold” rating and set a $62.00 price target on shares of Lincoln National in a research note on Monday, October 5th. Morgan Stanley dropped their price target on shares of Lincoln National from $65.00 to $63.00 in a research note on Friday, October 9th. Finally, Zacks Investment Research upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Monday, October 12th.

Shares of Lincoln National (NYSE:LNC) traded down 4.20% during mid-day trading on Monday, reaching $48.15. 609,647 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $52.93 and a 200 day moving average price of $53.61. The firm has a market cap of $11.92 billion and a P/E ratio of 10.23. Lincoln National has a 52-week low of $45.56 and a 52-week high of $62.08.

Lincoln National (NYSE:LNC) last released its earnings results on Wednesday, October 28th. The company reported $1.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by $0.39. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.39 billion. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.56 EPS. Analysts forecast that Lincoln National will post $5.49 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, February 1st. Stockholders of record on Monday, January 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from Lincoln National’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, January 7th.

In other news, EVP Lisa Buckingham sold 13,000 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $53.40, for a total value of $694,200.00. Following the transaction, the executive vice president now owns 32,223 shares of the company’s stock, valued at $1,720,708.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Avery sold 4,500 shares of the business’s stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $52.91, for a total transaction of $238,095.00. Following the completion of the transaction, the director now directly owns 4,577 shares in the company, valued at approximately $242,169.07. The disclosure for this sale can be found here.

An institutional investor recently bought a new position in Lincoln National stock. Northcoast Asset Management purchased a new stake in Lincoln National Co. (NYSE:LNC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,768 shares of the company’s stock, valued at approximately $1,033,000.

12 Month Chart for NYSE:LNC

Lincoln National Corporation is a holding company, which operates multiple 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. These products include fixed and indexed annuities, variable annuities, universal life insurance, variable universal life insurance, linked-benefit UL, term life insurance, indexed universal life insurance, employer-sponsored retirement plans and services, and group life, disability and dental. It operates in four segments: Annuities offers fixed (NYSE:LNC) and variable annuities. Retirement Plan Services provides employers with retirement plan products and services. Life Insurance focuses in the creation and protection of wealth through life insurance products. Group Protection offers principally group non-medical insurance products.

 

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