Lincoln National (NYSE:LNC) Sets New 52-Week High After Earnings Beat

Shares of Lincoln National Co. (NYSE:LNC) hit a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $37.15 and last traded at $36.83, with a volume of 1220737 shares. The stock had previously closed at $35.77.

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

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 4.89%. The ex-dividend date was Friday, January 10th. Lincoln National’s payout ratio is currently 128.57%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LNC. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. TD Cowen increased 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. Barclays decreased 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 report on Monday, January 6th. Finally, Wells Fargo & Company reduced 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 research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $33.40.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Lincoln National by 535.5% in the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 905 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Lincoln National by 95.3% in the 3rd quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 530 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Lincoln National in the fourth quarter worth $36,000. Eastern Bank purchased a new position in shares of Lincoln National during the third quarter valued at approximately $40,000. Finally, Meeder Asset Management Inc. bought a new stake in Lincoln National during the 3rd quarter valued at about $48,000. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

Lincoln National Trading Up 2.9 %

The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $6.27 billion, a PE ratio of 26.29, a P/E/G ratio of 0.27 and a beta of 1.79. The firm has a 50 day simple moving average of $32.91 and a 200 day simple moving average of $32.45.

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.