Lincoln National (NYSE:LNC) Reaches New 52-Week High at $33.46

Shares of Lincoln National Co. (NYSE:LNC) hit a new 52-week high during trading on Monday . The company traded as high as $33.46 and last traded at $33.40, with a volume of 636114 shares trading hands. The stock had previously closed at $32.95.

Analyst Ratings Changes

A number of brokerages have recently commented on LNC. Keefe, Bruyette & Woods upped their price target on Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI boosted their price objective on Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Jefferies Financial Group boosted their price objective on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Sandler boosted their price objective on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Finally, StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.18.

Lincoln National Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.26 and a current ratio of 0.26. The business has a 50-day simple moving average of $31.87 and a two-hundred day simple moving average of $29.48. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 4.53, a P/E/G ratio of 0.28 and a beta of 1.84.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.27. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.64 billion. As a group, research analysts forecast that Lincoln National Co. will post 5.83 EPS for the current year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Wednesday, July 10th. Lincoln National’s dividend payout ratio is currently 24.62%.

Insider Transactions at Lincoln National

In other news, EVP Sean Woodroffe sold 55,127 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the sale, the executive vice president now owns 198,255 shares in the company, valued at approximately $6,457,165.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

Large investors have recently added to or reduced their stakes in the business. First Merchants Corp bought a new stake in Lincoln National in the 4th quarter valued at $269,000. GSA Capital Partners LLP raised its stake in Lincoln National by 1,032.2% in the 4th quarter. GSA Capital Partners LLP now owns 105,777 shares of the financial services provider’s stock valued at $2,853,000 after acquiring an additional 96,434 shares during the period. First Eagle Investment Management LLC raised its stake in Lincoln National by 33.0% in the 1st quarter. First Eagle Investment Management LLC now owns 387,800 shares of the financial services provider’s stock valued at $12,382,000 after acquiring an additional 96,200 shares during the period. Advisors Preferred LLC bought a new stake in Lincoln National in the 4th quarter valued at $3,830,000. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Lincoln National in the 4th quarter valued at $2,263,000. 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.