The price of Lincoln National Corporation (NYSE:LNC) shares last traded on Wall Street fell -1.72% to $27.43.
Based on available information, 15 analysts follow Lincoln National Corporation (NYSE:LNC). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $31.00 and a low of $17.00, we find $26.00. Given the previous closing price of $27.91, this indicates a potential downside of -6.84 percent. LNC stock price is now 14.97% away from the 50-day moving average and -8.71% away from the 200-day moving average. The market capitalization of the company currently stands at $4.69B.
Among analysts, 11 rate the stock a hold while 1 rate it a buy. Brokers who have rated the stock have averaged $25.31 as their price target over the next twelve months.
With the price target reduced from $35 to $29, Barclays Downgraded its rating from Equal Weight to Underweight for Lincoln National Corporation (NYSE: LNC).
In other news, KELLY GARY C, Director bought 7,838 shares of the company’s stock on May 11. The stock was bought for $200,025 at an average price of $25.52. Upon completion of the transaction, the Director now directly owns 15,007 shares in the company, valued at $0.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15, EVP, President LFD Kennedy John Christopher sold 1,500 shares of the business’s stock. A total of $46,185 was realized by selling the stock at an average price of $30.79. This leaves the insider owning 20,336 shares of the company worth $0.56 million. Insiders disposed of 12,401 shares of company stock worth roughly $0.34 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LNC stock. A new stake in Lincoln National Corporation shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $11,673,000. HOLOCENE ADVISORS, LP invested $7,468,000 in shares of LNC during the first quarter. In the first quarter, PEAK6 INVESTMENTS LLC acquired a new stake in Lincoln National Corporation valued at approximately $3,834,000. POWER CORP OF CANADA acquired a new stake in LNC for approximately $3,723,000. REDWOOD INVESTMENT MANAGEMENT, LLC purchased a new stake in LNC valued at around $2,347,000 in the second quarter. In total, there are 803 active investors with 81.70% ownership of the company’s stock.
During the past 12 months, Lincoln National Corporation has had a low of $18.50 and a high of $54.59. The fifty day moving average price for LNC is $24.01 and a two-hundred day moving average price translates $29.94 for the stock.
The latest earnings results from Lincoln National Corporation (NYSE: LNC) was released for Mar, 2023. The net profit margin was -18.80% and return on equity was -62.80% for LNC. For the current quarter, analysts expect LNC to generate $4.64B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/01/2023. Investors who held shares on 07/10/2023 were paid a $0.45 dividend. On an annualized basis, this represents a $1.80 dividend and a 6.56% percent yield. There was an ex-dividend date of 07/07/2023 for this dividend.
Lincoln National Corporation(LNC) Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The company’s Life Insurance segment provides life insurance products, including term insurance, such as single and survivorship versions of universal life insurance; variable universal life insurance; indexed universal life insurance products; and critical illness and long-term care riders. Its Annuities segment offers fixed, variable, and indexed variable annuities. The company’s Group Protection segment offers group non-medical insurance products including short and long-term disability, statutory disability and paid family medical leave administration, and absence management services, term life, dental, vision and accident, and critical illness benefits and services to the employer marketplace through various forms of employee-paid and employer-paid plans. Its Retirement Plan Services segment provides employers with retirement plan products and services primarily in the defined contribution retirement plan marketplace; individual and group variable annuities, group fixed annuities, and mutual fund-based programs; and a range of plan services, including plan recordkeeping, compliance testing, participant education, and trust and custodial services. The company distributes its products through consultants, brokers, planners, agents, financial advisors, third-party administrators, and other intermediaries. Lincoln National Corporation was founded in 1905 and is headquartered in Radnor, Pennsylvania.
