Lincoln National Co. (NYSE:LNC – Get Free Report)’s stock price rose 3.7% during trading on Friday . The stock traded as high as $25.70 and last traded at $25.68. Approximately 414,383 shares were traded during trading, a decline of 87% from the average daily volume of 3,134,459 shares. The stock had previously closed at $24.76.
Analyst Ratings Changes
LNC has been the topic of several research reports. Barclays boosted their price objective on shares of Lincoln National from $17.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, August 7th. Morgan Stanley upped their price target on shares of Lincoln National from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Piper Sandler upped their target price on shares of Lincoln National from $21.00 to $27.00 in a research report on Friday, July 7th. StockNews.com initiated coverage on shares of Lincoln National in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, 22nd Century Group reiterated a “maintains” rating on shares of Lincoln National in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.54.
Lincoln National Trading Up 3.7 %
Lincoln National (NYSE:LNC – Get Free Report) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.10. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a negative net margin of 18.67% and a negative return on equity of 22.54%. During the same period last year, the business earned $2.23 EPS. Research analysts predict that Lincoln National Co. will post 7.15 earnings per share for the current year.
Lincoln National Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 7.01%. The ex-dividend date is Monday, October 9th. Lincoln National’s dividend payout ratio (DPR) is -10.23%.
Institutional Investors Weigh In On Lincoln National
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in shares of Lincoln National by 249.3% during the fourth quarter. Millennium Management LLC now owns 4,420,920 shares of the financial services provider’s stock worth $135,811,000 after buying an additional 3,155,232 shares in the last quarter. Norges Bank acquired a new stake in shares of Lincoln National during the fourth quarter worth about $62,691,000. State Street Corp lifted its position in shares of Lincoln National by 20.8% during the third quarter. State Street Corp now owns 9,443,719 shares of the financial services provider’s stock worth $414,674,000 after purchasing an additional 1,628,081 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Lincoln National by 186.4% during the first quarter. Squarepoint Ops LLC now owns 1,413,124 shares of the financial services provider’s stock worth $31,753,000 after purchasing an additional 919,705 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Lincoln National by 83.4% in the first quarter. Bank of America Corp DE now owns 1,935,139 shares of the financial services provider’s stock valued at $43,483,000 after acquiring an additional 879,741 shares in the last quarter. Hedge funds and other institutional investors own 71.89% of the company’s stock.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company's Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders.
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