B. Riley Comments on Lincoln National Co.’s FY2019 Earnings (LNC)

Lincoln National Co. (NYSE:LNC) – Analysts at B. Riley lifted their FY2019 earnings per share estimates for Lincoln National in a research report issued to clients and investors on Tuesday. B. Riley analyst R. Binner now expects that the financial services provider will earn $9.35 per share for the year, up from their prior estimate of $9.10. B. Riley currently has a “Neutral” rating on the stock.

Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, January 31st. The financial services provider reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.04. Lincoln National had a net margin of 14.48% and a return on equity of 10.86%. The business had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year.

A number of other equities research analysts have also recently commented on LNC. ValuEngine cut shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Goldman Sachs Group began coverage on shares of Lincoln National in a report on Wednesday, October 18th. They issued a “sell” rating and a $71.00 target price for the company. Zacks Investment Research cut shares of Lincoln National from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. raised shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 target price for the company in a report on Tuesday, January 2nd. Finally, Wells Fargo & Co set a $80.00 target price on shares of Lincoln National and gave the company a “hold” rating in a report on Thursday, November 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $83.27.

Shares of Lincoln National (NYSE:LNC) traded down $0.06 during trading hours on Wednesday, hitting $77.24. 1,005,685 shares of the stock were exchanged, compared to its average volume of 1,578,757. Lincoln National has a 1-year low of $61.45 and a 1-year high of $86.68. The company has a quick ratio of 0.11, a current ratio of 0.10 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $17,060.00, a PE ratio of 8.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.96.

Institutional investors have recently modified their holdings of the company. First Merchants Corp acquired a new position in shares of Lincoln National during the third quarter worth about $735,000. Csenge Advisory Group acquired a new position in Lincoln National during the third quarter worth about $272,000. Twin Capital Management Inc. grew its position in Lincoln National by 8.5% during the third quarter. Twin Capital Management Inc. now owns 201,505 shares of the financial services provider’s stock worth $14,806,000 after buying an additional 15,803 shares during the period. Denali Advisors LLC grew its position in Lincoln National by 155.1% during the third quarter. Denali Advisors LLC now owns 172,700 shares of the financial services provider’s stock worth $12,690,000 after buying an additional 105,000 shares during the period. Finally, State of Wisconsin Investment Board grew its position in Lincoln National by 7.3% during the third quarter. State of Wisconsin Investment Board now owns 299,244 shares of the financial services provider’s stock worth $21,988,000 after buying an additional 20,239 shares during the period. Institutional investors and hedge funds own 80.50% of the company’s stock.

In other news, CEO Dennis R. Glass sold 102,367 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $84.71, for a total transaction of $8,671,508.57. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Randal J. Freitag sold 31,657 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $84.32, for a total transaction of $2,669,318.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,324 shares of company stock worth $11,961,400. Company insiders own 1.12% of the company’s stock.

Lincoln National declared that its Board of Directors has authorized a stock repurchase program on Friday, January 19th that authorizes the company to buyback outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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Lincoln National Company Profile

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.

Earnings History and Estimates for Lincoln National (NYSE:LNC)

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