ValuEngine upgraded shares of Lincoln National (NYSE:LNC) from a buy rating to a strong-buy rating in a report released on Wednesday morning.
A number of other equities research analysts also recently weighed in on the company. Barclays restated a buy rating and issued a $90.00 target price on shares of Lincoln National in a research report on Tuesday, January 9th. Royal Bank of Canada restated a buy rating and issued a $86.00 target price on shares of Lincoln National in a research report on Friday, December 8th. Keefe, Bruyette & Woods restated a hold rating and issued a $89.00 target price on shares of Lincoln National in a research report on Friday, December 22nd. Zacks Investment Research upgraded Lincoln National from a hold rating to a buy rating and set a $89.00 target price for the company in a research report on Monday, January 8th. Finally, Deutsche Bank assumed coverage on Lincoln National in a research report on Tuesday, January 2nd. They issued a buy rating and a $84.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Lincoln National currently has a consensus rating of Hold and an average price target of $83.33.
Lincoln National (NYSE:LNC) opened at $78.71 on Wednesday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $17,180.00, a P/E ratio of 8.54, a PEG ratio of 1.16 and a beta of 1.97. Lincoln National has a 52-week low of $61.45 and a 52-week high of $86.68.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a $0.33 dividend. The ex-dividend date is Monday, April 9th. This represents a $1.32 annualized dividend and a dividend yield of 1.68%. Lincoln National’s dividend payout ratio is currently 14.32%.
Lincoln National declared that its board has initiated a stock buyback plan on Friday, January 19th that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other Lincoln National news, EVP Kenneth S. Solon sold 1,875 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $78.53, for a total value of $147,243.75. Following the transaction, the executive vice president now owns 148,067 shares of the company’s stock, valued at $11,627,701.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dennis R. Glass sold 102,367 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.71, for a total value of $8,671,508.57. The disclosure for this sale can be found here. Insiders sold 143,199 shares of company stock worth $12,108,644 in the last ninety days. 1.12% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Rowland & Co. Investment Counsel ADV bought a new position in shares of Lincoln National in the fourth quarter valued at $108,000. Cerebellum GP LLC bought a new position in shares of Lincoln National in the fourth quarter valued at $123,000. Resources Investment Advisors Inc. increased its holdings in shares of Lincoln National by 125.0% in the fourth quarter. Resources Investment Advisors Inc. now owns 1,800 shares of the financial services provider’s stock valued at $138,000 after buying an additional 1,000 shares in the last quarter. Wagner Wealth Management LLC bought a new position in shares of Lincoln National in the fourth quarter valued at $184,000. Finally, Focused Wealth Management Inc bought a new position in shares of Lincoln National in the fourth quarter valued at $169,000. 80.21% of the stock is currently owned by institutional investors.
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About Lincoln National
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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