Lincoln National Co. Plans Quarterly Dividend of $0.45 (NYSE:LNC)

Lincoln National Co. (NYSE:LNCGet 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.

Lincoln National (NYSE:LNCGet Rating) last announced its earnings results on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.31). Lincoln National had a net margin of 6.62% and a return on equity of 7.68%. The business had revenue of $4.72 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the prior year, the business earned $1.82 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts forecast that Lincoln National will post 9.79 EPS for the current fiscal year.

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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Dividend History for Lincoln National (NYSE:LNC)

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