Lincoln National Co. (NYSE:LNC – Get Rating) declared a quarterly dividend on Friday, May 27th, RTT News reports. Shareholders of record on Monday, July 11th will be paid a dividend of 0.45 per share by the financial services provider on Monday, August 1st. This represents a $1.80 annualized dividend and a yield of 3.13%.
Lincoln National has increased its dividend payment by an average of 7.9% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Lincoln National has a dividend payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lincoln National to earn $12.52 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 14.4%.
Shares of Lincoln National stock traded up $0.42 during trading hours on Friday, hitting $57.58. 5,054 shares of the company’s stock traded hands, compared to its average volume of 1,567,813. Lincoln National has a 12-month low of $50.55 and a 12-month high of $77.57. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.27 and a beta of 1.90. The company has a fifty day simple moving average of $61.64 and a 200-day simple moving average of $66.26. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.21 and a quick ratio of 0.21.
Institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC increased its stake in shares of Lincoln National by 7.4% during the first quarter. Advisory Services Network LLC now owns 9,605 shares of the financial services provider’s stock valued at $628,000 after buying an additional 658 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Lincoln National by 0.8% in the first quarter. The Manufacturers Life Insurance Company now owns 137,929 shares of the financial services provider’s stock worth $9,015,000 after acquiring an additional 1,057 shares in the last quarter. Toroso Investments LLC boosted its holdings in Lincoln National by 12.6% in the first quarter. Toroso Investments LLC now owns 12,732 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 1,428 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Lincoln National by 43.7% in the first quarter. BNP Paribas Arbitrage SA now owns 184,275 shares of the financial services provider’s stock worth $12,044,000 after acquiring an additional 56,044 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its holdings in Lincoln National by 552.7% in the first quarter. Beacon Pointe Advisors LLC now owns 49,373 shares of the financial services provider’s stock worth $3,227,000 after acquiring an additional 41,809 shares in the last quarter. 86.40% of the stock is currently owned by institutional investors and hedge funds.
LNC has been the subject of several recent research reports. Barclays decreased their price objective on Lincoln National from $66.00 to $58.00 in a report on Tuesday, May 10th. The Goldman Sachs Group lowered Lincoln National from a “buy” rating to a “neutral” rating and set a $74.00 target price for the company. in a report on Tuesday, March 1st. Citigroup assumed coverage on Lincoln National in a report on Monday. They set a “neutral” rating and a $56.00 target price for the company. Piper Sandler reduced their target price on Lincoln National from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Friday. Finally, Morgan Stanley dropped their price target on Lincoln National from $81.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, April 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Lincoln National presently has a consensus rating of “Hold” and an average price target of $73.00.
Lincoln National Company Profile (Get Rating)
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.
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