Lincoln National (NYSE:LNC) Stock Price Up 5.4% – Still a Buy?

Lincoln National Co. (NYSE:LNC) was up 5.4% during trading on Tuesday . The company traded as high as $35.49 and last traded at $35.74. Approximately 270,248 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 1,253,979 shares. The stock had previously closed at $33.90.

Wall Street Analysts Forecast Growth

LNC has been the topic of a number of analyst reports. Barclays dropped their price target on shares of Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Piper Sandler decreased their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. TD Cowen boosted their price target on Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.40.

Lincoln National Trading Up 0.1 %

The company has a market capitalization of $5.78 billion, a P/E ratio of 24.23, a P/E/G ratio of 0.26 and a beta of 1.78. The stock has a 50 day moving average of $32.98 and a 200-day moving average of $32.33. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. Lincoln National’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, research analysts predict that Lincoln National Co. will post 6.97 EPS for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.31%. Lincoln National’s dividend payout ratio is presently 128.57%.

Insider Activity

In other news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the transaction, the executive vice president now directly owns 99,644 shares in the company, valued at approximately $3,587,184. This represents a 2.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lincoln National

Large investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in Lincoln National by 535.5% during the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after buying an additional 905 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 530 shares in the last quarter. Eastern Bank bought a new stake in shares of Lincoln National in the 3rd quarter valued at about $40,000. Meeder Asset Management Inc. bought a new position in shares of Lincoln National during the third quarter valued at approximately $48,000. Finally, Crews Bank & Trust purchased a new position in Lincoln National during the fourth quarter valued at approximately $51,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.