Lincoln National (NYSE:LNC) Reaches New 1-Year High - What's Next?

Key Points

• Lincoln National's stock achieved a new 52-week high of $43.20, closing at $43.03 with significant trading volume of 961,417 shares.
• The company recently reported earnings per share (EPS) of $2.36 for the quarter, exceeding analyst expectations of $1.91.
• Lincoln National declared a dividend of $0.45 per share, with a dividend yield of 4.2%, set to be paid on November 3rd.

Lincoln National Corporation (NYSE:LNC - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $43.20 and last traded at $43.03, with a volume of 961417 shares changing hands. The stock had previously closed at $42.67.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LNC shares. Morgan Stanley lifted their price objective on shares of Lincoln National from $38.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. raised their price target on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research note on Tuesday, July 8th. Wall Street Zen raised Lincoln National from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Piper Sandler dropped their price objective on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Finally, National Bankshares set a $41.00 target price on Lincoln National in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lincoln National presently has a consensus rating of "Hold" and an average price target of $39.70.

Lincoln National Stock Performance

The company has a market cap of $8.20 billion, a PE ratio of 7.55, a PEG ratio of 0.59 and a beta of 1.48. The stock has a 50 day simple moving average of $37.33 and a two-hundred day simple moving average of $35.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26.

Lincoln National (NYSE:LNC - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $4.65 billion. During the same period in the previous year, the company posted $1.87 EPS. Equities analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Friday, October 10th. Lincoln National's dividend payout ratio is 31.41%.

Insider Buying and Selling at Lincoln National

In related news, EVP John Christopher Kennedy sold 5,000 shares of Lincoln National stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the transaction, the executive vice president directly owned 123,815 shares in the company, valued at $4,864,691.35. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lincoln National

A number of large investors have recently modified their holdings of LNC. Assetmark Inc. grew its stake in Lincoln National by 5.2% in the second quarter. Assetmark Inc. now owns 5,401 shares of the financial services provider's stock valued at $187,000 after purchasing an additional 268 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Lincoln National by 3.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider's stock valued at $305,000 after buying an additional 275 shares during the last quarter. State of Wyoming grew its stake in shares of Lincoln National by 2.7% in the 1st quarter. State of Wyoming now owns 11,630 shares of the financial services provider's stock valued at $418,000 after buying an additional 305 shares in the last quarter. Wedmont Private Capital increased its holdings in Lincoln National by 3.0% in the second quarter. Wedmont Private Capital now owns 10,749 shares of the financial services provider's stock worth $370,000 after buying an additional 311 shares during the last quarter. Finally, MAI Capital Management increased its holdings in Lincoln National by 13.7% in the second quarter. MAI Capital Management now owns 2,616 shares of the financial services provider's stock worth $91,000 after buying an additional 315 shares during the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

About Lincoln National

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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