Lincoln National Corporation (LNC) Stock Rating Upgraded by Zacks Investment Research
Lincoln National Corporation (NYSE:LNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $77.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.02% from the stock’s previous close.
According to Zacks, “Over the last one year, Lincoln National’s shares have outperformed the industry. The company is well positioned for long-term growth on the back of changes made in product and business mix. In order to shield itself from long-term claims variability, the company has been emphasizing on sale of Life products without long-term guarantees. It has also streamlined its business by axing unprofitable and non-core lines. The company’s Group Protection segment which was challenged earlier, has been recovering. The stock has witnessed an upward revision in the Zacks Consensus Estimate for 2017 over the past 60 days.”
LNC has been the topic of a number of other reports. Bank of America Corporation set a $78.00 price objective on Lincoln National Corporation in a research note on Tuesday, July 4th. Royal Bank Of Canada boosted their price objective on Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Wells Fargo & Company reissued a “hold” rating on shares of Lincoln National Corporation in a research note on Thursday, June 8th. BidaskClub downgraded Lincoln National Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Barclays PLC boosted their target price on Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $73.50.
Shares of Lincoln National Corporation (NYSE LNC) traded up 0.89% during midday trading on Wednesday, hitting $65.80. The company’s stock had a trading volume of 1,375,918 shares. Lincoln National Corporation has a 1-year low of $44.74 and a 1-year high of $75.78. The company has a market cap of $14.57 billion, a P/E ratio of 10.02 and a beta of 1.98. The company has a 50-day moving average price of $70.27 and a 200 day moving average price of $67.98.
Lincoln National Corporation (NYSE:LNC) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.12. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.56 billion. Lincoln National Corporation had a return on equity of 10.99% and a net margin of 10.85%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 EPS. On average, equities research analysts predict that Lincoln National Corporation will post $7.47 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. Azimuth Capital Management LLC increased its holdings in Lincoln National Corporation by 0.3% during the 1st quarter. Azimuth Capital Management LLC now owns 7,185 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 25 shares in the last quarter. Stratford Consulting LLC increased its holdings in Lincoln National Corporation by 0.4% during the 2nd quarter. Stratford Consulting LLC now owns 6,432 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 27 shares in the last quarter. Savant Capital LLC increased its holdings in Lincoln National Corporation by 0.4% during the 2nd quarter. Savant Capital LLC now owns 6,847 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 30 shares in the last quarter. Krilogy Financial LLC increased its holdings in Lincoln National Corporation by 1.2% during the 2nd quarter. Krilogy Financial LLC now owns 3,460 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 40 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in Lincoln National Corporation by 1.3% during the 1st quarter. Tocqueville Asset Management L.P. now owns 4,842 shares of the financial services provider’s stock worth $317,000 after purchasing an additional 60 shares in the last quarter. 79.87% of the stock is owned by hedge funds and other institutional investors.
About Lincoln National Corporation
Lincoln National Corporation is a holding company, which operates 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. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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