Wells Fargo & Co Begins Coverage on Lincoln National (LNC)

Wells Fargo & Co began coverage on shares of Lincoln National (NYSE:LNC) in a report issued on Tuesday morning, MarketBeat.com reports. The firm issued a market perform rating and a $63.00 price objective on the financial services provider’s stock.

Several other research analysts have also commented on the company. Goldman Sachs Group upgraded Lincoln National from a sell rating to a neutral rating and raised their price target for the stock from $69.00 to $70.00 in a research report on Monday, September 10th. Zacks Investment Research upgraded Lincoln National from a hold rating to a buy rating and set a $78.00 price target for the company in a research report on Monday, October 8th. UBS Group raised their price target on Lincoln National from $73.00 to $74.00 and gave the stock a neutral rating in a research report on Monday, October 8th. Bank of America lowered their price target on Lincoln National from $79.00 to $75.00 and set a buy rating for the company in a research report on Friday, November 2nd. Finally, Deutsche Bank lowered their price target on Lincoln National from $74.00 to $73.00 and set a buy rating for the company in a research report on Monday, November 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $74.69.

LNC opened at $55.24 on Tuesday. Lincoln National has a 52 week low of $48.07 and a 52 week high of $86.68. The firm has a market cap of $11.64 billion, a PE ratio of 7.09 and a beta of 1.89. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.39.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $2.34 EPS for the quarter, topping the consensus estimate of $2.17 by $0.17. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The business had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.25 billion. During the same period last year, the business posted $1.87 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. Equities research analysts predict that Lincoln National will post 8.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 10th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, January 9th. This is a positive change from Lincoln National’s previous quarterly dividend of $0.33. This represents a $1.48 dividend on an annualized basis and a yield of 2.68%. Lincoln National’s dividend payout ratio (DPR) is 19.00%.

In related news, EVP Jamie Ohl sold 2,152 shares of Lincoln National stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $58.00, for a total value of $124,816.00. Following the completion of the transaction, the executive vice president now directly owns 12,732 shares in the company, valued at $738,456. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.12% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in LNC. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Lincoln National by 54.8% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 45,001 shares of the financial services provider’s stock valued at $2,801,000 after purchasing an additional 15,936 shares during the period. Renaissance Technologies LLC lifted its holdings in Lincoln National by 1,669.8% during the 2nd quarter. Renaissance Technologies LLC now owns 641,974 shares of the financial services provider’s stock worth $39,963,000 after buying an additional 605,700 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Lincoln National by 42.0% during the 2nd quarter. Baird Financial Group Inc. now owns 22,536 shares of the financial services provider’s stock worth $1,403,000 after buying an additional 6,663 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Lincoln National by 17.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 720,998 shares of the financial services provider’s stock worth $44,883,000 after buying an additional 104,545 shares during the last quarter. Finally, AMP Capital Investors Ltd lifted its holdings in Lincoln National by 5.6% during the 2nd quarter. AMP Capital Investors Ltd now owns 148,073 shares of the financial services provider’s stock worth $9,216,000 after buying an additional 7,795 shares during the last quarter. Hedge funds and other institutional investors own 80.48% of the company’s stock.

About Lincoln National

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 company sells a range of wealth protection, accumulation, and retirement income products and solutions.

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