Lincoln National (NYSE:LNC) Trading 7.2% Higher Following Strong Earnings

Shares of Lincoln National Co. (NYSE:LNC) rose 7.2% during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $35.30 and last traded at $36.21. Approximately 180,852 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,358,067 shares. The stock had previously closed at $33.77.

The financial services provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.04. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.02%. Lincoln National’s dividend payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LNC. TD Cowen lifted their target price on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Wells Fargo & Company reduced their target price on shares of Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Finally, Barclays decreased their price target on shares of Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lincoln National currently has a consensus rating of “Hold” and a consensus price target of $33.40.

Institutional Trading of Lincoln National

A number of hedge funds and other institutional investors have recently made changes to their positions in LNC. OLD National Bancorp IN boosted its position in Lincoln National by 4.0% during the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 325 shares during the last quarter. Forvis Mazars Wealth Advisors LLC raised its stake in shares of Lincoln National by 3.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 11,199 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 338 shares in the last quarter. Roman Butler Fullerton & Co. grew its stake in shares of Lincoln National by 5.5% in the fourth quarter. Roman Butler Fullerton & Co. now owns 6,610 shares of the financial services provider’s stock valued at $224,000 after buying an additional 343 shares in the last quarter. Versant Capital Management Inc increased its holdings in Lincoln National by 20.2% during the fourth quarter. Versant Capital Management Inc now owns 2,104 shares of the financial services provider’s stock worth $67,000 after buying an additional 354 shares during the last quarter. Finally, Brookstone Capital Management raised its position in Lincoln National by 6.2% during the third quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock worth $215,000 after acquiring an additional 397 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Trading Up 6.2 %

The business’s 50 day simple moving average is $32.90 and its 200 day simple moving average is $32.43. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 0.27 and a beta of 1.79. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73.

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.