Lincoln National Co. (NYSE:LNC - Get Rating) - Research analysts at Jefferies Financial Group lowered their FY2022 earnings per share (EPS) estimates for Lincoln National in a note issued to investors on Monday, November 21st. Jefferies Financial Group analyst S. Kamath now anticipates that the financial services provider will post earnings of ($4.15) per share for the year, down from their previous forecast of $7.75. Jefferies Financial Group currently has a "Hold" rating and a $51.00 target price on the stock. The consensus estimate for Lincoln National's current full-year earnings is ($2.20) per share. Jefferies Financial Group also issued estimates for Lincoln National's Q4 2022 earnings at $1.97 EPS, Q1 2023 earnings at $1.87 EPS, Q2 2023 earnings at $2.25 EPS, Q3 2023 earnings at $2.19 EPS, Q4 2023 earnings at $2.28 EPS, FY2023 earnings at $8.60 EPS, FY2024 earnings at $9.80 EPS, FY2025 earnings at $11.20 EPS and FY2026 earnings at $12.40 EPS.
LNC has been the subject of a number of other research reports. Morgan Stanley cut Lincoln National from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $68.00 to $54.00 in a research report on Thursday, November 3rd. Credit Suisse Group raised Lincoln National from an "underperform" rating to a "neutral" rating and dropped their price objective for the stock from $45.00 to $41.00 in a research note on Friday, November 4th. Piper Sandler lowered Lincoln National from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $55.00 to $38.00 in a research note on Thursday, November 3rd. StockNews.com lowered Lincoln National from a "hold" rating to a "sell" rating in a research note on Monday, November 7th. Finally, TheStreet downgraded Lincoln National from a "b-" rating to a "d+" rating in a research report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.25.
Lincoln National Stock Down 0.4 %
Lincoln National stock opened at $38.74 on Thursday. The stock has a market cap of $6.56 billion, a PE ratio of -3.21 and a beta of 1.84. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.19 and a current ratio of 0.19. Lincoln National has a one year low of $32.59 and a one year high of $76.40. The stock has a fifty day moving average of $44.52 and a 200 day moving average of $48.21.
Hedge Funds Weigh In On Lincoln National
A number of institutional investors and hedge funds have recently modified their holdings of LNC. State Street Corp boosted its stake in Lincoln National by 20.8% in the third quarter. State Street Corp now owns 9,443,719 shares of the financial services provider's stock valued at $414,674,000 after acquiring an additional 1,628,081 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Lincoln National by 243.5% during the second quarter. AQR Capital Management LLC now owns 1,568,919 shares of the financial services provider's stock worth $71,386,000 after buying an additional 1,112,215 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Lincoln National by 422.9% during the second quarter. BNP Paribas Arbitrage SA now owns 963,522 shares of the financial services provider's stock worth $45,064,000 after buying an additional 779,247 shares during the period. Prana Capital Management LP boosted its stake in shares of Lincoln National by 437.3% during the third quarter. Prana Capital Management LP now owns 880,799 shares of the financial services provider's stock worth $38,676,000 after buying an additional 716,860 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Lincoln National by 192.2% during the second quarter. Millennium Management LLC now owns 893,036 shares of the financial services provider's stock worth $41,767,000 after buying an additional 587,419 shares during the period. Institutional investors and hedge funds own 77.37% of the company's stock.
Lincoln National Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Monday, January 9th. Lincoln National's dividend payout ratio is currently -14.94%.
Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.
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