Lincoln National (NYSE:LNC) Hits New 12-Month High - Here's Why

Key Points

• Lincoln National's stock price reached a new 52-week high at $41.25, closing at $41.11, with a trading volume of 263 shares.
• The company reported a quarterly EPS of $2.36, exceeding analyst estimates by $0.45, despite revenues falling short of projections at $4.04 billion.
• A quarterly dividend of $0.45 has been announced, representing a 4.3% yield and payable on November 3rd, following a record date of October 10th.

Lincoln National Corporation (NYSE:LNC - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $41.25 and last traded at $41.11, with a volume of 263 shares traded. The stock had previously closed at $40.65.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 8th. National Bankshares set a $41.00 price target on shares of Lincoln National in a report on Monday. Barclays raised their price target on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Wells Fargo & Company restated a "positive" rating on shares of Lincoln National in a report on Tuesday, August 5th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Lincoln National from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.70.

Lincoln National Stock Up 2.8%

The firm has a market cap of $7.93 billion, a P/E ratio of 7.29, a price-to-earnings-growth ratio of 0.56 and a beta of 1.42. The stock's 50 day simple moving average is $35.80 and its 200 day simple moving average is $34.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.45. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the business posted $1.87 EPS. Research analysts anticipate that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $0.45 dividend. The ex-dividend date is Friday, October 10th. This represents a $1.80 annualized dividend and a dividend yield of 4.3%. Lincoln National's dividend payout ratio is presently 31.41%.

Insider Transactions at Lincoln National

In related news, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the transaction, the executive vice president directly owned 48,743 shares of the company's stock, valued at approximately $1,613,393.30. The trade was a 17.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Christopher Kennedy sold 5,000 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the sale, the executive vice president directly owned 123,815 shares in the company, valued at approximately $4,864,691.35. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,697 shares of company stock worth $1,959,862 in the last quarter. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lincoln National

Several institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its holdings in Lincoln National by 4.2% during the second quarter. Advisory Services Network LLC now owns 73,671 shares of the financial services provider's stock valued at $2,808,000 after purchasing an additional 3,003 shares during the last quarter. Caxton Associates LLP lifted its holdings in Lincoln National by 20.5% during the second quarter. Caxton Associates LLP now owns 102,048 shares of the financial services provider's stock valued at $3,531,000 after purchasing an additional 17,337 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Lincoln National by 7.8% during the second quarter. Public Sector Pension Investment Board now owns 582,051 shares of the financial services provider's stock valued at $20,139,000 after purchasing an additional 41,872 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in Lincoln National by 3.2% during the second quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider's stock valued at $305,000 after purchasing an additional 275 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Lincoln National by 1.8% during the second quarter. CANADA LIFE ASSURANCE Co now owns 198,291 shares of the financial services provider's stock valued at $6,865,000 after buying an additional 3,457 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

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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