Bank of America Downgrades Lincoln National Corporation to Neutral

Brokerage firm Bank of America Downgrades its rating on Lincoln National Corporation(NYSE:LNC). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Bank of America was issued on Jun 29, 2016.

In a different note, On Apr 6, 2016, Citigroup said it Maintains its rating on Lincoln National Corporation. In the research note, the firm Raises the price-target to $43.00 per share. The shares have been rated ‘Neutral’ by the firm.

Lincoln National Corporation (LNC) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.05% at a volume of 33,97,071. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.06. The peak price level was also seen at $39.06 while the days lowest was $37.64. Finally the shares closed at $38.75. The 52-week high of the shares is $61.2 while the 52-week low is $30.39. According to the latest information available, the market cap of the company is $9,262 M.

Lincoln National Corporation has also declared a cash dividend of $0.2500 on May 27, 2016. The shares will quote ex-dividend on Jul 7, 2016 and the record date has been fixed on Jul 11, 2016. The dividend payable date has been fixed on Aug 1, 2016.

Lincoln National Corporation(LNC) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $3.24B. Analysts had an estimated revenue of $3.45B. Earnings per share were $1.25. Analysts had estimated an EPS of $1.49.

Several Insider Transactions has been reported to the SEC. On May 19, 2016, Mark E Konen (President – Ins. Sol. and Ann.) sold 16,000 shares at $45.26 per share price.Also, On Mar 16, 2016, Douglas N Miller (SVP & CAO) sold 6,960 shares at $40.03 per share price.On Nov 10, 2015, Randal J Freitag (EVP & CFO) sold 8,065 shares at $56.97 per share price, according to the Form-4 filing with the securities and exchange commission.

Lincoln National Corporation is a holding company which operates multiple insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection accumulation and retirement income products and solutions through its business segments. These products include fixed and indexed annuities variable annuities universal life insurance variable universal life insurance linked-benefit UL term life insurance indexed universal life insurance employer-sponsored retirement plans and services and group life disability and dental. It operates in four segments: Annuities offers fixed (including indexed) and variable annuities. Retirement Plan Services provides employers with retirement plan products and services. Life Insurance focuses in the creation and protection of wealth through life insurance products. Group Protection offers principally group non-medical insurance products.

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