Lincoln National Corporation (LNC) Price Target Raised to $77.00
Lincoln National Corporation (NYSE:LNC) had its price target hoisted by stock analysts at Morgan Stanley from $76.00 to $77.00 in a research note issued on Thursday. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 3.77% from the company’s current price.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a report on Thursday, August 24th. BidaskClub downgraded Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Lincoln National Corporation in a report on Monday, June 26th. Royal Bank Of Canada increased their price target on Lincoln National Corporation from $77.00 to $83.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $83.00 price target (up from $82.00) on shares of Lincoln National Corporation in a report on Thursday, September 14th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $75.10.
Shares of Lincoln National Corporation (NYSE:LNC) traded up 1.17% during mid-day trading on Thursday, reaching $75.07. 409,904 shares of the company’s stock traded hands. Lincoln National Corporation has a one year low of $47.36 and a one year high of $75.78. The firm’s 50-day moving average is $69.82 and its 200 day moving average is $68.18. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 11.44 and a beta of 1.99.
Lincoln National Corporation (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.12. The business had revenue of $3.58 billion during 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 company’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 earnings per share. Analysts predict that Lincoln National Corporation will post $7.47 earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the business. Azimuth Capital Management LLC lifted its holdings in Lincoln National Corporation by 0.3% in the first quarter. Azimuth Capital Management LLC now owns 7,185 shares of the financial services provider’s stock valued at $470,000 after acquiring an additional 25 shares during the period. Stratford Consulting LLC lifted its holdings in Lincoln National Corporation by 0.4% in the second quarter. Stratford Consulting LLC now owns 6,432 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 27 shares during the period. Savant Capital LLC lifted its holdings in Lincoln National Corporation by 0.4% in the second quarter. Savant Capital LLC now owns 6,847 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 30 shares during the period. Krilogy Financial LLC lifted its holdings in Lincoln National Corporation by 1.2% in the second quarter. Krilogy Financial LLC now owns 3,460 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 40 shares during the period. Finally, Financial Architects Inc lifted its holdings in Lincoln National Corporation by 2.3% in the second quarter. Financial Architects Inc now owns 2,968 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 68 shares during the period. 79.85% of the stock is owned by institutional investors.
Lincoln National Corporation 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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