Lincoln National (NYSE:LNC) Stock Gets Price Target Trim from Mizuho

Lincoln National (NYSE:LNC) had its price objective trimmed by Mizuho from $53.00 to $49.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

LNC has been the topic of a number of other reports. National Bank Financial set a $49.00 target price on shares of Lincoln National in a report on Wednesday. Wells Fargo & Company lifted their price target on Lincoln National from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. TD Cowen boosted their price objective on Lincoln National from $37.00 to $42.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Bank of America restated a “neutral” rating and set a $47.00 price objective on shares of Lincoln National in a research report on Thursday, July 30th. Finally, Barclays raised their price objective on Lincoln National from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.67.

Lincoln National Trading Down 1.7%

LNC stock opened at $40.28 on Wednesday. The firm has a fifty day moving average price of $43.18 and a 200 day moving average price of $39.20. Lincoln National has a fifty-two week low of $32.18 and a fifty-two week high of $47.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $7.71 billion, a PE ratio of 3.49, a price-to-earnings-growth ratio of 1.45 and a beta of 1.16.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The company had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business posted $2.36 earnings per share. Lincoln National’s quarterly revenue was up 12.3% on a year-over-year basis. Sell-side analysts anticipate that Lincoln National will post 7.99 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, October 9th. Lincoln National’s dividend payout ratio is presently 15.60%.

Insider Transactions at Lincoln National

In related news, Director Gary Kelly sold 15,007 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $26.50, for a total value of $397,685.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sean Woodroffe sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $45.28, for a total transaction of $498,080.00. Following the completion of the sale, the executive vice president directly owned 119,947 shares of the company’s stock, valued at approximately $5,431,200.16. The trade was a 8.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Lincoln National

A number of large investors have recently bought and sold shares of LNC. Bain Capital Prairie LLC bought a new stake in shares of Lincoln National during the fourth quarter worth $835,360,000. Dimensional Fund Advisors LP boosted its stake in shares of Lincoln National by 24.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider’s stock valued at $275,304,000 after purchasing an additional 1,522,179 shares during the period. State Street Corp grew its holdings in shares of Lincoln National by 3.6% in the second quarter. State Street Corp now owns 6,106,302 shares of the financial services provider’s stock worth $215,858,000 after purchasing an additional 215,007 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Lincoln National by 3.9% in the first quarter. Jennison Associates LLC now owns 3,823,152 shares of the financial services provider’s stock worth $135,722,000 after purchasing an additional 141,994 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Lincoln National during the second quarter worth approximately $63,112,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

About Lincoln National

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement solutions primarily in the United States. Its businesses serve individuals, families, employers and institutions through a portfolio of life insurance, annuities and workplace benefit products.

The company’s offerings include term and permanent life insurance, variable and fixed annuities, and retirement plan services designed to support income and financial planning needs.