Lincoln National (NYSE:LNC) Hits New 1-Year High – Here’s What Happened

Lincoln National Corporation (NYSE:LNC)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $43.70 and last traded at $43.7850, with a volume of 276042 shares traded. The stock had previously closed at $42.99.

Wall Street Analyst Weigh In

Several analysts have issued reports on LNC shares. Evercore ISI upped their price objective on Lincoln National from $45.00 to $46.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Barclays increased their price target on Lincoln National from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Morgan Stanley reduced their price objective on shares of Lincoln National from $58.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Zacks Research lowered shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Finally, Piper Sandler restated a “neutral” rating and set a $42.00 target price on shares of Lincoln National in a research note on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Lincoln National currently has an average rating of “Hold” and an average target price of $43.40.

Lincoln National Price Performance

The stock has a market cap of $8.24 billion, a P/E ratio of 3.90, a P/E/G ratio of 0.43 and a beta of 1.33. The company’s 50 day moving average price is $40.44 and its 200-day moving average price is $38.24. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.61.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.20. The business had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.80 billion. Lincoln National had a return on equity of 18.77% and a net margin of 11.49%.During the same period in the prior year, the business posted $2.06 earnings per share. As a group, sell-side analysts expect that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Monday, January 12th 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 4.1%. The ex-dividend date is Monday, January 12th. Lincoln National’s dividend payout ratio (DPR) is 16.16%.

Insiders Place Their Bets

In other news, Director Owen Ryan purchased 2,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $42.17 per share, for a total transaction of $84,340.00. Following the acquisition, the director owned 12,000 shares in the company, valued at $506,040. This trade represents a 20.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lincoln National

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. acquired a new stake in Lincoln National during the 2nd quarter worth about $28,000. Ameritas Advisory Services LLC bought a new stake in shares of Lincoln National during the 2nd quarter valued at about $29,000. JPL Wealth Management LLC acquired a new stake in Lincoln National during the third quarter worth approximately $29,000. Salomon & Ludwin LLC bought a new stake in Lincoln National in the third quarter worth approximately $32,000. Finally, Mather Group LLC. acquired a new position in Lincoln National in the third quarter valued at approximately $39,000. Institutional investors 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.