Lincoln National (NYSE:LNC) Reaches New 52-Week Low at $21.99

Lincoln National Co. (NYSE:LNC – Get Rating) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $21.99 and last traded at $22.22, with a volume of 598971 shares. The stock had previously closed at $23.52.

Analysts Set New Price Targets

LNC has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price target on Lincoln National from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, January 9th. Royal Bank of Canada increased their target price on Lincoln National from $35.00 to $37.00 and gave the company a “sector perform” rating in a research note on Friday, February 10th. StockNews.com initiated coverage on Lincoln National in a research note on Thursday. They set a “sell” rating for the company. Keefe, Bruyette & Woods decreased their target price on Lincoln National from $41.00 to $33.00 in a research note on Sunday, December 18th. Finally, Evercore ISI decreased their target price on Lincoln National to $33.00 in a research note on Monday, December 12th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Lincoln National has a consensus rating of “Hold” and a consensus price target of $36.21.

Lincoln National Stock Performance

The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.91. The stock has a fifty day moving average price of $31.81 and a 200-day moving average price of $37.98. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -1.56 and a beta of 1.81.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 8.14%. Lincoln National’s payout ratio is presently -13.60%.

Hedge Funds Weigh In On Lincoln National

A number of hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its holdings in shares of Lincoln National by 36.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,432 shares of the financial services provider’s stock worth $166,000 after buying an additional 1,450 shares in the last quarter. Macquarie Group Ltd. grew its position in Lincoln National by 1.9% during the 4th quarter. Macquarie Group Ltd. now owns 40,990 shares of the financial services provider’s stock worth $1,259,000 after acquiring an additional 759 shares during the last quarter. Graphene Investments SAS bought a new stake in Lincoln National during the 4th quarter worth approximately $2,522,000. Point72 Middle East FZE bought a new stake in Lincoln National during the 4th quarter worth approximately $138,000. Finally, Public Employees Retirement System of Ohio grew its position in Lincoln National by 2.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 86,977 shares of the financial services provider’s stock worth $2,672,000 after acquiring an additional 1,825 shares during the last quarter. 78.00% of the stock is owned by institutional investors and hedge funds.

Lincoln National Company Profile

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. It operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.