Lincoln National (NYSE:LNC) Reaches New 12-Month High After Strong Earnings

Lincoln National Co. (NYSE:LNC)’s stock price hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The stock traded as high as $37.15 and last traded at $36.83, with a volume of 1220737 shares. The stock had previously closed at $35.77.

The financial services provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.87 by $0.04. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Friday, January 10th. Lincoln National’s dividend payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LNC. Barclays dropped their target price on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. TD Cowen lifted their target price on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Wells Fargo & Company reduced their price objective on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.40.

Institutional Investors Weigh In On Lincoln National

Several hedge funds have recently modified their holdings of LNC. AlphaQuest LLC increased its position in Lincoln National by 188.2% in the 4th quarter. AlphaQuest LLC now owns 21,829 shares of the financial services provider’s stock valued at $692,000 after acquiring an additional 14,256 shares during the period. Amundi lifted its position in shares of Lincoln National by 92.0% in the fourth quarter. Amundi now owns 119,294 shares of the financial services provider’s stock worth $3,747,000 after purchasing an additional 57,152 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Lincoln National during the fourth quarter worth approximately $8,155,000. Vision Financial Markets LLC acquired a new stake in shares of Lincoln National during the 4th quarter valued at $89,000. Finally, Arizona State Retirement System increased its stake in shares of Lincoln National by 0.9% in the fourth quarter. Arizona State Retirement System now owns 49,394 shares of the financial services provider’s stock worth $1,566,000 after acquiring an additional 436 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $6.27 billion, a P/E ratio of 26.29, a PEG ratio of 0.27 and a beta of 1.79. The company has a 50 day moving average of $32.91 and a 200 day moving average of $32.45.

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.