Lincoln National Corporation (NYSE: LNC) stock fell -3.60% on Wednesday to $21.13 against a previous-day closing price of $21.92. With 2.17 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.08 million shares. During the session, the Insurance – Life company that operates in wider Financial sector, reached to the highest price of $21.54 whereas the lowest price it dropped to was $20.73. The 52-week range on LNC shows that it touched its highest point at $58.68 and its lowest point at $18.50 during that stretch. It currently has a 1-year price target of $24.38. With its current market cap of 3.66 billion, LNC has annualized dividend of $1.80 while the current yield stands at 8.52%. Beta for the stock currently stands at 1.74.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LNC was up-trending over the past week, with a rise of 0.81%, but this was up by 3.33% over a month. Three-month performance dropped to -34.13% while six-month performance fell -44.63%. The stock lost -60.89% in the past year, while it has lost -31.22% so far this year. A look at the trailing 12-month EPS for LNC yields -19.20 with Next year EPS estimates of 8.24. For the next quarter, that number is 1.87. This implies an EPS growth rate of -231.30% for this year and 13.88% for next year. EPS is expected to grow by 7.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -42.20%.
Float and Shares Shorts:
At present, 169.20 million LNC shares are outstanding with a float of 153.12 million shares on hand for trading. On May 14, 2023, short shares totaled 7.28 million, which was 4.29% higher than short shares on Apr 13, 2023. In addition to Ms. Ellen Gail Cooper C.F.A., F.S.A. as the firm’s Pres, CEO & Director, Mr. Kenneth Steven Solon serves as its Exec. VP, Chief Information Officer and Head of Digital, IT & Enterprise Services.
Through their ownership of 82.52% of LNC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 43.14% of LNC, in contrast to 35.90% held by mutual funds. Shares owned by individuals account for 3.22%. As the largest shareholder in LNC with 13.11% of the stake, The Vanguard Group, Inc. holds 22,188,097 shares worth 22,188,097. A second-largest stockholder of LNC, SSgA Funds Management, Inc., holds 9,045,693 shares, controlling over 5.35% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in LNC, holding 8,616,752 shares or 5.09% stake. With a 3.12% stake in LNC, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 5,273,075 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.62% of LNC stock, is the second-largest Mutual Fund holder. It holds 4,428,131 shares valued at 96.22 million. Vanguard 500 Index Fund holds 2.13% of the stake in LNC, owning 3,610,054 shares worth 78.45 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LNC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LNC analysts setting a high price target of $33.00 and a low target of $16.00, the average target price over the next 12 months is $24.40. Based on these targets, LNC could surge 56.18% to reach the target high and fall by -24.28% to reach the target low. Reaching the average price target will result in a growth of 15.48% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded LNC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 344,418 while 63,263 shares were sold.