Lincoln National Corporation (LNC) Downgraded by BidaskClub

BidaskClub downgraded shares of Lincoln National Corporation (NYSE:LNC) from a buy rating to a hold rating in a research note published on Thursday, July 27th.

A number of other research firms have also recently commented on LNC. Keefe, Bruyette & Woods reissued a hold rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Bank of America Corporation raised Lincoln National Corporation from a neutral rating to a buy rating and set a $78.00 price target on the stock in a report on Thursday, April 6th. They noted that the move was a valuation call. Zacks Investment Research raised Lincoln National Corporation from a hold rating to a buy rating and set a $75.00 price target on the stock in a report on Monday, June 5th. Finally, Wells Fargo & Company reaffirmed a hold rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Lincoln National Corporation has an average rating of Buy and a consensus price target of $73.40.

Lincoln National Corporation (NYSE LNC) opened at 74.34 on Thursday. Lincoln National Corporation has a 52 week low of $44.68 and a 52 week high of $75.78. The firm’s 50-day moving average price is $69.94 and its 200 day moving average price is $67.97. The company has a market capitalization of $16.74 billion, a PE ratio of 11.38 and a beta of 1.99.

Lincoln National Corporation (NYSE:LNC) last released its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.12. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the prior year, the firm posted $1.56 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts expect that Lincoln National Corporation will post $7.43 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Thursday, July 6th. Lincoln National Corporation’s dividend payout ratio is 17.79%.

In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $65.04, for a total value of $907,047.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.41% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Lincoln National Corporation by 2,922.6% in the first quarter. BlackRock Inc. now owns 18,418,766 shares of the financial services provider’s stock worth $1,205,509,000 after buying an additional 17,809,394 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Lincoln National Corporation by 104.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,086,835 shares of the financial services provider’s stock worth $204,564,000 after buying an additional 1,575,438 shares in the last quarter. Vanguard Group Inc. increased its position in Lincoln National Corporation by 5.6% in the first quarter. Vanguard Group Inc. now owns 22,884,373 shares of the financial services provider’s stock worth $1,497,782,000 after buying an additional 1,215,192 shares in the last quarter. Teachers Advisors LLC increased its position in Lincoln National Corporation by 158.6% in the first quarter. Teachers Advisors LLC now owns 1,612,351 shares of the financial services provider’s stock worth $105,528,000 after buying an additional 988,753 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in Lincoln National Corporation by 3,586.0% in the first quarter. Janus Capital Management LLC now owns 990,323 shares of the financial services provider’s stock worth $64,817,000 after buying an additional 963,456 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors.

About Lincoln National Corporation

Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.