Shares of Lincoln National Co. (NYSE:LNC – Get Free Report) shot up 5.4% during trading on Tuesday . The company traded as high as $35.49 and last traded at $35.74. 270,248 shares were traded during trading, a decline of 78% from the average session volume of 1,253,979 shares. The stock had previously closed at $33.90.
Analysts Set New Price Targets
A number of research analysts have issued reports on LNC shares. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Piper Sandler dropped their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. TD Cowen boosted their target price on Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Barclays dropped their price target on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $33.40.
View Our Latest Analysis on LNC
Lincoln National Stock Up 3.7 %
Lincoln National (NYSE:LNC – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.42. The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. Lincoln National’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. Sell-side analysts forecast that Lincoln National Co. will post 6.97 earnings per share for the current fiscal year.
Lincoln National Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is 128.57%.
Insider Activity at Lincoln National
In related news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the transaction, the executive vice president now directly owns 99,644 shares in the company, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Lincoln National
A number of hedge funds have recently added to or reduced their stakes in LNC. OLD National Bancorp IN lifted its position in shares of Lincoln National by 4.0% in the 3rd quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock worth $265,000 after buying an additional 325 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Lincoln National by 20.2% in the fourth quarter. Versant Capital Management Inc now owns 2,104 shares of the financial services provider’s stock worth $67,000 after acquiring an additional 354 shares during the last quarter. Brookstone Capital Management boosted its stake in Lincoln National by 6.2% in the third quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock valued at $215,000 after acquiring an additional 397 shares during the period. Hexagon Capital Partners LLC grew its holdings in shares of Lincoln National by 13.3% during the third quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 411 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Lincoln National by 23.2% in the 3rd quarter. Quarry LP now owns 2,793 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 526 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.
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