Lincoln National (NYSE:LNC) Trading Down 9.4%

Shares of Lincoln National Co. (NYSE:LNCGet Rating) traded down 9.4% during trading on Thursday . The company traded as low as $46.77 and last traded at $46.91. 190,480 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,393,788 shares. The stock had previously closed at $51.79.

Analysts Set New Price Targets

Several research analysts recently issued reports on LNC shares. Wolfe Research reiterated a “peer perform” rating on shares of Lincoln National in a research report on Thursday, June 23rd. Morgan Stanley lowered their target price on shares of Lincoln National from $80.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, July 6th. Piper Sandler cut their target price on Lincoln National from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Barclays lowered their price target on Lincoln National from $58.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lincoln National from $83.00 to $77.00 in a research report on Monday, July 11th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Lincoln National has an average rating of “Hold” and a consensus target price of $63.00.

Lincoln National Stock Down 2.3 %

The company’s 50-day simple moving average is $49.90 and its 200 day simple moving average is $59.35. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.19 and a quick ratio of 0.21. The firm has a market cap of $7.90 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.28 and a beta of 1.89.

Lincoln National (NYSE:LNCGet Rating) last released its earnings results on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share for the quarter, missing the consensus estimate of $1.97 by ($0.31). Lincoln National had a net margin of 4.45% and a return on equity of 7.82%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm posted $1.82 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts anticipate that Lincoln National Co. will post 8.71 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend was Friday, July 8th. Lincoln National’s payout ratio is currently 37.50%.

Hedge Funds Weigh In On Lincoln National

Hedge funds have recently added to or reduced their stakes in the stock. Lyrical Asset Management LP increased its position in Lincoln National by 1.2% during the 1st quarter. Lyrical Asset Management LP now owns 4,147,536 shares of the financial services provider’s stock valued at $271,083,000 after purchasing an additional 49,765 shares during the period. JPMorgan Chase & Co. raised its stake in Lincoln National by 19.9% in the first quarter. JPMorgan Chase & Co. now owns 3,401,204 shares of the financial services provider’s stock worth $222,304,000 after buying an additional 564,100 shares in the last quarter. Invesco Ltd. lifted its holdings in Lincoln National by 15.9% during the first quarter. Invesco Ltd. now owns 3,005,501 shares of the financial services provider’s stock worth $196,440,000 after buying an additional 411,343 shares during the period. Dimensional Fund Advisors LP boosted its position in Lincoln National by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,900,801 shares of the financial services provider’s stock valued at $189,613,000 after acquiring an additional 113,356 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Lincoln National by 1.3% in the 4th quarter. Northern Trust Corp now owns 2,461,149 shares of the financial services provider’s stock valued at $167,998,000 after acquiring an additional 32,498 shares during the period. 86.40% of the stock is currently owned by institutional investors.

About Lincoln National

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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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