Lincoln National Co. (LNC) to Issue Quarterly Dividend of $0.37 on August 1st

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.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.08 by $0.06. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.25 billion. Lincoln National had a return on equity of 12.32% and a net margin of 9.02%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.97 earnings per share. On average, equities research analysts expect that Lincoln National will post 9.29 EPS for the current fiscal year.

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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Dividend History for Lincoln National (NYSE:LNC)

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