Lincoln National (NYSE:LNC) Reaches New 1-Year High – Time to Buy?

Shares of Lincoln National Corporation (NYSE:LNC) reached a new 52-week high on Tuesday . The company traded as high as $46.87 and last traded at $46.7410, with a volume of 513661 shares traded. The stock had previously closed at $46.09.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LNC. TD Cowen upped their price target on shares of Lincoln National from $37.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their target price on shares of Lincoln National from $40.00 to $42.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Morgan Stanley cut their target price on shares of Lincoln National from $43.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, May 21st. UBS Group increased their price target on shares of Lincoln National from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Mizuho lifted their price target on Lincoln National from $51.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Lincoln National presently has an average rating of “Hold” and an average price target of $46.43.

Lincoln National Stock Performance

The stock’s 50-day moving average price is $38.43 and its 200-day moving average price is $37.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $8.96 billion, a P/E ratio of 4.05, a P/E/G ratio of 1.65 and a beta of 1.14.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.28. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.36 EPS. As a group, equities analysts expect that Lincoln National Corporation will post 7.8 EPS for the current year.

Lincoln National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, July 10th. Lincoln National’s payout ratio is presently 15.60%.

Insider Activity at Lincoln National

In other news, EVP Craigt T. Beazer sold 30,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the sale, the executive vice president directly owned 103,906 shares in the company, valued at approximately $3,579,561.70. This represents a 22.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. bought a new position in Lincoln National during the 1st quarter worth $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Lincoln National by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock worth $2,585,000 after buying an additional 16,991 shares during the period. Empowered Funds LLC lifted its stake in Lincoln National by 316.9% in the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock valued at $2,123,000 after buying an additional 44,936 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock valued at $22,383,000 after buying an additional 29,421 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of Lincoln National by 39.1% during the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 5,486 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.