Lincoln National Co. (LNC) Stock Rating Reaffirmed by Citigroup Inc.
Lincoln National Co. (NYSE:LNC)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a report released on Thursday. They presently have a $83.00 target price on the financial services provider’s stock, up from their prior target price of $82.00. Citigroup Inc.’s target price suggests a potential upside of 19.87% from the stock’s previous close.
LNC has been the topic of a number of other research reports. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a report on Thursday, August 24th. Bank of America Corporation set a $78.00 price target on Lincoln National in a report on Tuesday, July 4th. Royal Bank Of Canada boosted their price target on Lincoln National from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Wells Fargo & Company restated a “hold” rating on shares of Lincoln National in a report on Thursday, June 8th. Finally, BidaskClub downgraded Lincoln National from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $73.80.
Shares of Lincoln National (NYSE LNC) remained flat at $69.24 during midday trading on Thursday. 662,615 shares of the stock traded hands. The company has a market capitalization of $15.33 billion, a P/E ratio of 10.55 and a beta of 1.98. The firm’s 50 day moving average is $70.09 and its 200 day moving average is $67.87. Lincoln National has a 12-month low of $44.74 and a 12-month high of $75.78.
Lincoln National (NYSE:LNC) last announced its quarterly earnings results 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. Lincoln National had a return on equity of 10.65% and a net margin of 11.44%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the business earned $1.56 EPS. Lincoln National’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts expect that Lincoln National will post $7.47 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of LNC. Trust Co. of Vermont bought a new stake in shares of Lincoln National in the 2nd quarter worth approximately $101,000. Barnett & Company Inc. bought a new position in Lincoln National in the 1st quarter valued at approximately $104,000. Capital Analysts LLC lifted its position in Lincoln National by 54.4% in the 2nd quarter. Capital Analysts LLC now owns 1,685 shares of the financial services provider’s stock valued at $106,000 after acquiring an additional 594 shares in the last quarter. Global X Management Co. LLC lifted its position in Lincoln National by 98.6% in the 3rd quarter. Global X Management Co. LLC now owns 2,324 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 1,154 shares in the last quarter. Finally, Sun Life Financial INC lifted its position in Lincoln National by 20,600.0% in the 2nd quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock valued at $112,000 after acquiring an additional 1,648 shares in the last quarter. 79.87% of the stock is currently owned by hedge funds and other institutional investors.
Lincoln National Company Profile
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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