Zacks Investment Research downgraded shares of Lincoln National Corporation (NYSE:LNC) from a buy rating to a hold rating in a research report released on Monday morning.
According to Zacks, “Over the last one year, Lincoln National’s shares have outperformed the industry. The company is well positioned for long-term growth on the back of changes made in product and business mix. In order to shield itself from long-term claims variability, the company has been emphasizing on sale of Life products without long-term guarantees. It has also streamlined its business by axing unprofitable and non-core lines. The company’s Group Protection segment which was challenged earlier, has been recovering. The stock has witnessed an upward revision in the Zacks Consensus Estimate for 2017 over the past 60 days. However, increased expense driven by investment in technology will dent margins over the next many quarters. Declining cash flows are another cause of concern.”
Several other brokerages have also recently commented on LNC. BidaskClub upgraded Lincoln National Corporation from a hold rating to a buy rating in a report on Thursday, August 3rd. Wells Fargo & Company restated a hold rating on shares of Lincoln National Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada increased their target price on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an outperform rating in a report on Friday, August 4th. Barclays PLC increased their target price on Lincoln National Corporation from $84.00 to $85.00 and gave the stock an overweight rating in a report on Friday, August 11th. Finally, Citigroup Inc. restated a buy rating and set a $83.00 target price (up previously from $82.00) on shares of Lincoln National Corporation in a report on Thursday, September 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $74.50.
Shares of Lincoln National Corporation (NYSE LNC) opened at 72.33 on Monday. Lincoln National Corporation has a 52 week low of $44.74 and a 52 week high of $75.78. The company has a market capitalization of $16.02 billion, a PE ratio of 11.02 and a beta of 1.98. The company’s 50 day moving average is $69.75 and its 200-day moving average is $67.84.
Lincoln National Corporation (NYSE:LNC) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping the consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.56 earnings per share. On average, analysts expect that Lincoln National Corporation will post $7.47 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, October 6th. Lincoln National Corporation’s dividend payout ratio (DPR) is presently 17.79%.
Institutional investors and hedge funds have recently modified their holdings of the company. Trust Co. of Vermont acquired a new position in shares of Lincoln National Corporation during the second quarter valued at $101,000. Sun Life Financial INC lifted its stake in Lincoln National Corporation by 20,600.0% in the second quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock valued at $112,000 after buying an additional 1,648 shares during the period. D.A. Davidson & CO. lifted its stake in Lincoln National Corporation by 8.6% in the second quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock valued at $116,000 after buying an additional 136 shares during the period. SRS Capital Advisors Inc. lifted its stake in Lincoln National Corporation by 15.9% in the first quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock valued at $135,000 after buying an additional 285 shares during the period. Finally, Balentine LLC lifted its stake in Lincoln National Corporation by 120.4% in the first quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock valued at $194,000 after buying an additional 1,620 shares during the period. 79.85% of the stock is currently owned by institutional investors and hedge funds.
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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