Lincoln National (NYSE:LNC) PT Lowered to $31.00 at Bank of America

Lincoln National (NYSE:LNC) had its target price cut by Bank of America from $32.00 to $31.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research firms have also issued reports on LNC. Keefe, Bruyette & Woods lifted their price target on shares of Lincoln National from $30.00 to $32.00 and gave the stock a market perform rating in a research note on Wednesday, April 10th. Jefferies Financial Group upped their price objective on shares of Lincoln National from $34.00 to $38.00 and gave the company a buy rating in a report on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on shares of Lincoln National from $28.00 to $34.00 and gave the company an underweight rating in a research note on Tuesday, July 2nd. StockNews.com upgraded shares of Lincoln National from a sell rating to a hold rating in a research report on Monday, April 15th. Finally, Evercore ISI upped their price objective on shares of Lincoln National from $33.00 to $35.00 and gave the stock an in-line rating in a research report on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Lincoln National currently has a consensus rating of Hold and an average price target of $31.18.

Lincoln National Trading Up 0.8 %

LNC opened at $32.19 on Thursday. Lincoln National has a 12 month low of $20.85 and a 12 month high of $33.33. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.87. The stock has a 50-day moving average of $31.28 and a 200 day moving average of $29.12. The firm has a market cap of $5.47 billion, a P/E ratio of 4.40, a P/E/G ratio of 0.26 and a beta of 1.84.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.27. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.64 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. As a group, research analysts forecast that Lincoln National will post 5.94 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.59%. Lincoln National’s payout ratio is currently 24.62%.

Insiders Place Their Bets

In other news, EVP Sean Woodroffe sold 55,127 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $32.57, for a total value of $1,795,486.39. Following the transaction, the executive vice president now directly owns 198,255 shares of the company’s stock, valued at $6,457,165.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Lincoln National

Hedge funds have recently bought and sold shares of the business. Security Financial Services INC. grew its position in shares of Lincoln National by 4.6% in the fourth quarter. Security Financial Services INC. now owns 8,803 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 385 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Lincoln National by 32.6% in the 1st quarter. Global Retirement Partners LLC now owns 1,667 shares of the financial services provider’s stock valued at $53,000 after buying an additional 410 shares in the last quarter. Gateway Investment Advisers LLC increased its stake in shares of Lincoln National by 4.4% in the 2nd quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 426 shares during the last quarter. Arden Trust Co raised its holdings in shares of Lincoln National by 3.1% during the 2nd quarter. Arden Trust Co now owns 16,846 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 510 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Lincoln National by 49.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,577 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 525 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Company Profile

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.