Lincoln National (NYSE:LNC) Reaches New 52-Week High - Still a Buy?

Key Points

• Lincoln National's stock reached a new 52-week high of $40.16, with trading volume of 1,135 shares.
• The company recently reported earnings per share (EPS) of $2.36 for the quarter, surpassing estimates of $1.91, although revenue of $4.04 billion fell short of the anticipated $4.65 billion.
• Lincoln National pays a quarterly dividend of $0.45 per share, yielding 4.5%, with a payout ratio of 31.41%.

Lincoln National Corporation (NYSE:LNC - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $39.87 and last traded at $40.16, with a volume of 1135 shares trading hands. The stock had previously closed at $39.70.

Analyst Ratings Changes

Several equities analysts recently weighed in on LNC shares. Morgan Stanley lifted their price target on Lincoln National from $32.00 to $38.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Wells Fargo & Company reiterated a "positive" rating on shares of Lincoln National in a report on Tuesday, August 5th. Cfra Research upgraded Lincoln National to a "hold" rating in a report on Wednesday, August 6th. Barclays lifted their price objective on Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Finally, Piper Sandler lowered their target price on Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lincoln National currently has an average rating of "Hold" and an average price target of $39.22.

Lincoln National Trading Up 1.3%

The company has a market cap of $7.63 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 0.53 and a beta of 1.42. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.67. The business has a 50-day simple moving average of $34.75 and a 200-day simple moving average of $34.55.

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

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. Lincoln National's dividend payout ratio is currently 31.41%.

Insider Transactions at Lincoln National

In related news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total value of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares of the company's stock, valued at $4,864,691.35. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sean Woodroffe sold 43,622 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $32.78, for a total value of $1,429,929.16. Following the completion of the transaction, the executive vice president directly owned 154,102 shares in the company, valued at $5,051,463.56. This trade represents a 22.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,697 shares of company stock valued at $1,959,862. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lincoln National

Large investors have recently bought and sold shares of the stock. Hollencrest Capital Management boosted its stake in shares of Lincoln National by 383.2% during the first quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock worth $27,000 after buying an additional 594 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of Lincoln National during the second quarter worth about $28,000. Ameritas Advisory Services LLC acquired a new stake in Lincoln National in the second quarter valued at about $29,000. Kapitalo Investimentos Ltda acquired a new stake in Lincoln National in the fourth quarter valued at about $32,000. Finally, NBC Securities Inc. acquired a new stake in Lincoln National in the first quarter valued at about $33,000. 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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