Lincoln National (NYSE:LNC) Trading 8.1% Higher After Strong Earnings

Lincoln National Co. (NYSE:LNC) shares traded up 8.1% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $36.17 and last traded at $36.01. 222,728 shares changed hands during trading, a decline of 87% from the average session volume of 1,692,541 shares. The stock had previously closed at $33.30.

The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.06. The firm had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. During the same quarter last year, the business posted $2.02 earnings per share.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.00%. The ex-dividend date of this dividend was Wednesday, July 10th. Lincoln National’s dividend payout ratio is presently 24.62%.

Analysts Set New Price Targets

LNC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of Lincoln National from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI lifted their price objective on shares of Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. lifted their price objective on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $31.18.

Insider Activity

In other news, EVP Sean Woodroffe sold 55,127 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the transaction, the executive vice president now owns 198,255 shares in the company, valued at $6,457,165.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

Large investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in Lincoln National in the 1st quarter worth approximately $25,000. Whittier Trust Co. boosted its position in Lincoln National by 106.7% in the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 431 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Lincoln National in the 4th quarter worth approximately $27,000. Adirondack Trust Co. purchased a new stake in Lincoln National in the 2nd quarter worth approximately $31,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Lincoln National during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Lincoln National Stock Down 11.8 %

The stock has a market cap of $5.10 billion, a PE ratio of 4.11, a price-to-earnings-growth ratio of 0.29 and a beta of 1.84. The company has a current ratio of 0.27, a quick ratio of 0.26 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $32.01 and a 200-day moving average price of $29.64.

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.