Lincoln National Co. (NYSE:LNC) Given Average Recommendation of “Hold” by Brokerages

Lincoln National Co. (NYSE:LNC) has been assigned an average recommendation of “Hold” from the twelve research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $33.00.

A number of brokerages have recently commented on LNC. Wells Fargo & Company lifted their price target on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley dropped their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Barclays raised their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Piper Sandler dropped their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the transaction, the executive vice president now owns 99,644 shares of the company’s stock, valued at $3,587,184. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Trading of Lincoln National

Several hedge funds have recently modified their holdings of the company. Whittier Trust Co. lifted its holdings in shares of Lincoln National by 106.7% in the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 431 shares during the last quarter. Adirondack Trust Co. purchased a new stake in Lincoln National during the second quarter valued at approximately $31,000. Blue Trust Inc. lifted its stake in shares of Lincoln National by 535.5% in the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 905 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Lincoln National by 95.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 530 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Lincoln National by 249.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock valued at $39,000 after buying an additional 873 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Stock Down 3.1 %

NYSE:LNC opened at $35.01 on Thursday. The firm has a market cap of $5.96 billion, a P/E ratio of 25.01, a P/E/G ratio of 0.32 and a beta of 1.79. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National has a fifty-two week low of $22.49 and a fifty-two week high of $36.98. The firm has a 50-day simple moving average of $32.16 and a two-hundred day simple moving average of $31.52.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same period last year, the business earned $0.23 EPS. Lincoln National’s revenue was down 2.2% compared to the same quarter last year. Analysts predict that Lincoln National will post 6.53 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 128.57%.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.