Lincoln National (NYSE:LNC) Shares Up 5%

Lincoln National Co. (NYSE:LNCGet Rating)’s stock price rose 5% on Friday . The company traded as high as $37.97 and last traded at $37.97. Approximately 41,688 shares were traded during trading, a decline of 99% from the average daily volume of 2,790,947 shares. The stock had previously closed at $36.15.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LNC. Credit Suisse Group raised Lincoln National from an “underperform” rating to a “neutral” rating and decreased their price objective for the stock from $45.00 to $41.00 in a report on Friday, November 4th. Piper Sandler cut Lincoln National from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $38.00 in a research report on Thursday, November 3rd. Jefferies Financial Group lowered Lincoln National from a “buy” rating to a “hold” rating and decreased their price target for the stock from $55.00 to $51.00 in a research note on Monday, October 10th. StockNews.com downgraded Lincoln National from a “hold” rating to a “sell” rating in a research note on Monday, November 7th. Finally, Morgan Stanley cut Lincoln National from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $68.00 to $54.00 in a report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $46.25.

Lincoln National Trading Up 4.4 %

The firm has a market cap of $6.38 billion, a P/E ratio of -3.13 and a beta of 1.84. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.19 and a current ratio of 0.19. The business’s fifty day moving average is $45.20 and its 200-day moving average is $48.67.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Monday, January 9th. Lincoln National’s payout ratio is currently -14.94%.

Hedge Funds Weigh In On Lincoln National

Institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in Lincoln National by 21.1% during the 3rd quarter. M&T Bank Corp now owns 23,831 shares of the financial services provider’s stock worth $1,047,000 after buying an additional 4,150 shares during the last quarter. IMS Capital Management grew its position in Lincoln National by 68.3% in the third quarter. IMS Capital Management now owns 12,245 shares of the financial services provider’s stock worth $538,000 after acquiring an additional 4,971 shares during the period. Advisors Capital Management LLC raised its stake in shares of Lincoln National by 8.6% in the third quarter. Advisors Capital Management LLC now owns 249,515 shares of the financial services provider’s stock valued at $8,291,000 after acquiring an additional 19,834 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Lincoln National by 45.9% in the third quarter. Glenmede Trust Co. NA now owns 22,025 shares of the financial services provider’s stock valued at $966,000 after buying an additional 6,933 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in shares of Lincoln National by 42.3% during the third quarter. Captrust Financial Advisors now owns 73,184 shares of the financial services provider’s stock worth $3,214,000 after purchasing an additional 21,737 shares during the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

About Lincoln National

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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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