Lincoln National (NYSE:LNC) Shares Gap Up to $30.67

Lincoln National Co. (NYSE:LNC - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $30.67, but opened at $31.50. Lincoln National shares last traded at $31.61, with a volume of 157,263 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LNC. Piper Sandler lowered their price objective on shares of Lincoln National from $32.00 to $30.00 and set a "neutral" rating for the company in a research note on Monday, May 6th. Evercore ISI lifted their price target on shares of Lincoln National from $33.00 to $35.00 and gave the company an "in-line" rating in a research note on Thursday, April 11th. Jefferies Financial Group raised shares of Lincoln National from a "hold" rating to a "buy" rating and increased their price objective for the stock from $26.00 to $34.00 in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Lincoln National from $26.00 to $29.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 2nd. Finally, TheStreet cut Lincoln National from a "c" rating to a "d+" rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $29.90.

Lincoln National Stock Performance

The company has a 50-day moving average of $29.20 and a 200-day moving average of $27.26. The company has a market cap of $5.42 billion, a PE ratio of 4.36, a PEG ratio of 0.24 and a beta of 1.80. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.80 annualized dividend and a dividend yield of 5.65%. Lincoln National's payout ratio is 24.62%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Algebris UK Ltd lifted its position in shares of Lincoln National by 122.5% during the 1st quarter. Algebris UK Ltd now owns 861,259 shares of the financial services provider's stock worth $25,582,000 after buying an additional 474,171 shares in the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in Lincoln National during the first quarter worth $615,000. Tidal Investments LLC boosted its position in Lincoln National by 25.6% in the first quarter. Tidal Investments LLC now owns 30,453 shares of the financial services provider's stock worth $972,000 after purchasing an additional 6,207 shares during the last quarter. Innealta Capital LLC bought a new position in Lincoln National in the 1st quarter valued at $364,000. Finally, Interval Partners LP purchased a new stake in shares of Lincoln National during the 1st quarter valued at $9,938,000. 72.81% of the stock is owned by 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.