Lincoln National Co. (NYSE:LNC) announced a quarterly dividend on Friday, May 24th, RTT News reports. Stockholders of record on Wednesday, July 10th will be given a dividend of 0.37 per share by the financial services provider on Thursday, August 1st. This represents a $1.48 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Tuesday, July 9th.
Lincoln National has raised its dividend by an average of 18.2% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Lincoln National has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lincoln National to earn $10.28 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 14.4%.
LNC stock opened at $66.22 on Friday. The firm has a market capitalization of $13.40 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.79 and a beta of 1.89. Lincoln National has a twelve month low of $48.07 and a twelve month high of $71.27. The company has a 50 day moving average price of $63.30. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.19 and a quick ratio of 0.19.
In other Lincoln National news, EVP Kenneth S. Solon sold 11,738 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $64.39, for a total value of $755,809.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary C. Kelly sold 17,040 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $66.63, for a total value of $1,135,375.20. The disclosure for this sale can be found here. Insiders sold 45,206 shares of company stock valued at $2,920,586 in the last quarter. 1.50% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on LNC shares. UBS Group upped their price target on Lincoln National from $67.00 to $69.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Monday, May 20th. Goldman Sachs Group upgraded Lincoln National from a “neutral” rating to a “buy” rating and upped their price target for the stock from $65.00 to $77.00 in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. set a $92.00 price target on Lincoln National and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.38.
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 Annuities segment offers variable, fixed, and indexed variable annuities.
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