Lincoln National (NYSE:LNC) Shares Gap Up to $34.16

Lincoln National Co. (NYSE:LNCGet Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $34.16, but opened at $35.00. Lincoln National shares last traded at $35.15, with a volume of 6,096 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler cut shares of Lincoln National from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $55.00 to $38.00 in a research report on Thursday, November 3rd. Morgan Stanley cut shares of Lincoln National from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $68.00 to $54.00 in a research report on Thursday, November 3rd. The Goldman Sachs Group raised shares of Lincoln National from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $50.00 to $46.00 in a research report on Wednesday. TheStreet cut shares of Lincoln National from a “b-” rating to a “d+” rating in a report on Wednesday, November 2nd. Finally, Credit Suisse Group raised shares of Lincoln National from an “underperform” rating to a “neutral” rating and dropped their target price for the stock from $45.00 to $41.00 in a report on Friday, November 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.25.

Lincoln National Price Performance

The company has a 50 day moving average price of $45.46 and a 200-day moving average price of $48.93. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 2.69. The company has a market cap of $6.12 billion, a price-to-earnings ratio of -3.00 and a beta of 1.84.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Monday, January 9th. Lincoln National’s dividend payout ratio is currently -14.94%.

Institutional Trading of Lincoln National

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LNC. Park Avenue Securities LLC increased its position in Lincoln National by 14.7% during the 1st quarter. Park Avenue Securities LLC now owns 4,861 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 624 shares during the period. Regentatlantic Capital LLC increased its position in Lincoln National by 4.8% during the 1st quarter. Regentatlantic Capital LLC now owns 5,836 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 269 shares during the period. Steward Partners Investment Advisory LLC increased its position in Lincoln National by 42.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,090 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 326 shares during the period. DAVENPORT & Co LLC increased its position in Lincoln National by 4.9% during the 1st quarter. DAVENPORT & Co LLC now owns 6,187 shares of the financial services provider’s stock valued at $404,000 after purchasing an additional 289 shares during the period. Finally, Waldron Private Wealth LLC increased its position in Lincoln National by 4.7% during the 1st quarter. Waldron Private Wealth LLC now owns 5,182 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 77.37% of the company’s stock.

About Lincoln National

(Get Rating)

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.

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