Lincoln National (NYSE:LNC) Shares Gap Up – Time to Buy?

Lincoln National Corporation (NYSE:LNC)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $42.59, but opened at $43.87. Lincoln National shares last traded at $42.7820, with a volume of 88,951 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group upped their price objective on Lincoln National from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Mizuho lifted their price target on shares of Lincoln National from $51.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on Lincoln National from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Bank of America reissued a “neutral” rating and issued a $47.00 price objective on shares of Lincoln National in a research report on Thursday, July 30th. Finally, Wells Fargo & Company boosted their target price on Lincoln National from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $47.07.

Lincoln National Stock Performance

The firm’s 50 day simple moving average is $42.04 and its 200 day simple moving average is $38.01. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 3.83, a PEG ratio of 1.51 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.27 and a current ratio of 0.27.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.28. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.36 earnings per share. Sell-side analysts forecast that Lincoln National Corporation will post 7.97 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Monday, October 12th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 9th. Lincoln National’s payout ratio is 15.60%.

Insider Buying and Selling at Lincoln National

In other news, Director Gary C. Kelly sold 15,007 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total transaction of $397,685.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the transaction, the executive vice president directly owned 103,906 shares in the company, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 56,007 shares of company stock valued at $1,929,266. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

A number of large investors have recently modified their holdings of LNC. Baird Financial Group Inc. purchased a new stake in shares of Lincoln National in the first quarter valued at approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Lincoln National by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock worth $2,585,000 after buying an additional 16,991 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Lincoln National by 316.9% in the 1st quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock valued at $2,123,000 after buying an additional 44,936 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Lincoln National by 5.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock worth $22,383,000 after purchasing an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in Lincoln National by 39.1% during the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock worth $701,000 after buying an additional 5,486 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.