Lincoln National (NYSE:LNC) Reaches New 1-Year High - Time to Buy?

Key Points

• Lincoln National shares reached a new 52-week high of $46.87 and last traded near $46.74, above the consensus analyst price target of $46.43. Analysts’ average rating remains “Hold,” with six Buys, eight Holds, and two Sells.
• The company reported quarterly EPS of $2.24, beating estimates of $1.96, while revenue rose 12.3% year over year to $4.93 billion, slightly above expectations.
• Lincoln National paid a quarterly dividend of $0.45 per share, representing an annualized payout of $1.80 and a 3.8% yield; institutional investors own approximately 72.81% of the stock.

Lincoln National Corporation (NYSE:LNC - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $46.87 and last traded at $46.7410, with a volume of 513661 shares trading hands. The stock had previously closed at $46.09.

Analysts Set New Price Targets

Several research analysts recently weighed in on LNC shares. TD Cowen increased their target price on Lincoln National from $37.00 to $42.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target on Lincoln National from $40.00 to $42.00 and gave the company an "underweight" rating in a research report on Tuesday, July 21st. Mizuho upped their price target on Lincoln National from $51.00 to $53.00 and gave the stock an "outperform" rating in a research note on Friday. Morgan Stanley cut their price objective on Lincoln National from $43.00 to $40.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Finally, UBS Group lifted their price objective on Lincoln National from $39.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $46.43.

Lincoln National Trading Up 1.6%

The stock has a market capitalization of $8.96 billion, a PE ratio of 4.05, a PEG ratio of 1.65 and a beta of 1.14. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62. The business's 50-day moving average is $38.43 and its two-hundred day moving average is $37.46.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 EPS for the quarter, beating the consensus estimate of $1.96 by $0.28. The company had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.89 billion. Lincoln National had a return on equity of 17.35% and a net margin of 12.21%.The firm's revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company posted $2.36 earnings per share. On average, analysts predict that Lincoln National Corporation will post 7.8 earnings per share for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, July 10th. Lincoln National's dividend payout ratio (DPR) is presently 15.60%.

Insider Buying and Selling

In related news, EVP Craigt T. Beazer sold 30,000 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the transaction, the executive vice president directly owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.03% of the company's stock.

Institutional Trading of Lincoln National

A number of hedge funds have recently made changes to their positions in LNC. Baird Financial Group Inc. acquired a new position in Lincoln National in the 1st quarter worth $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Lincoln National by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider's stock valued at $2,585,000 after purchasing an additional 16,991 shares during the last quarter. Empowered Funds LLC grew its stake in Lincoln National by 316.9% during the 1st quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider's stock valued at $2,123,000 after purchasing an additional 44,936 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Lincoln National by 5.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider's stock worth $22,383,000 after purchasing an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in Lincoln National by 39.1% during the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider's stock worth $701,000 after purchasing an additional 5,486 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.