Lincoln National Co. (NYSE:LNC – Get Free Report) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 17,568 put options on the company. This represents an increase of 212% compared to the typical daily volume of 5,638 put options.
Wall Street Analyst Weigh In
Several equities analysts have commented on LNC shares. JPMorgan Chase & Co. decreased their price objective on shares of Lincoln National from $36.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 4th. The Goldman Sachs Group decreased their price objective on shares of Lincoln National from $39.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. Wells Fargo & Company decreased their price objective on shares of Lincoln National from $35.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. Royal Bank of Canada decreased their price objective on shares of Lincoln National from $31.00 to $26.00 in a report on Thursday, May 11th. Finally, StockNews.com initiated coverage on shares of Lincoln National in a research report on Thursday, May 18th. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Lincoln National has an average rating of “Hold” and an average target price of $30.15.
Lincoln National Trading Down 1.8 %
LNC opened at $26.21 on Thursday. Lincoln National has a twelve month low of $18.50 and a twelve month high of $54.59. The company has a 50-day simple moving average of $23.01 and a 200 day simple moving average of $26.06. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -1.37 and a beta of 1.81.
Lincoln National Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be issued a $0.45 dividend. The ex-dividend date is Friday, July 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.87%. Lincoln National’s dividend payout ratio (DPR) is currently -9.38%.
Insider Buying and Selling
In other news, Director Gary C. Kelly bought 7,838 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average cost of $25.52 per share, for a total transaction of $200,025.76. Following the completion of the acquisition, the director now owns 15,007 shares in the company, valued at $382,978.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.75% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in LNC. American Century Companies Inc. lifted its holdings in shares of Lincoln National by 11.6% in the first quarter. American Century Companies Inc. now owns 17,600 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 1,835 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Lincoln National by 4.2% in the first quarter. Private Advisor Group LLC now owns 6,980 shares of the financial services provider’s stock valued at $456,000 after buying an additional 284 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Lincoln National by 2,066.8% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 17,768 shares of the financial services provider’s stock valued at $1,161,000 after buying an additional 16,948 shares during the period. MetLife Investment Management LLC increased its stake in shares of Lincoln National by 24.7% in the first quarter. MetLife Investment Management LLC now owns 46,808 shares of the financial services provider’s stock valued at $3,059,000 after buying an additional 9,279 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in shares of Lincoln National by 107.8% in the first quarter. Panagora Asset Management Inc. now owns 10,455 shares of the financial services provider’s stock valued at $683,000 after buying an additional 5,423 shares during the period. Institutional investors own 75.46% of the company’s stock.
Lincoln National 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.
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