Lincoln National (NYSE:LNC) Lifted to “Buy” at Goldman Sachs Group

Lincoln National (NYSE:LNC) was upgraded by investment analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other research analysts have also recently weighed in on LNC. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, May 20th. JPMorgan Chase & Co. set a $92.00 target price on Lincoln National and gave the company a “buy” rating in a report on Thursday, May 2nd. UBS Group lifted their target price on Lincoln National from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, April 9th. Finally, ValuEngine upgraded Lincoln National from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Lincoln National currently has a consensus rating of “Hold” and an average target price of $75.85.

Lincoln National stock opened at $62.90 on Tuesday. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34. The business’s fifty day moving average is $63.41. The stock has a market capitalization of $12.73 billion, a P/E ratio of 7.42, a price-to-earnings-growth ratio of 0.75 and a beta of 1.93. Lincoln National has a fifty-two week low of $48.07 and a fifty-two week high of $71.27.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $2.14 EPS for the quarter, beating the Zacks’ consensus estimate of $2.08 by $0.06. Lincoln National had a return on equity of 12.32% and a net margin of 9.02%. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the previous year, the business earned $1.97 earnings per share. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. Research analysts anticipate that Lincoln National will post 9.29 earnings per share for the current fiscal year.

In related news, Director Gary C. Kelly sold 17,040 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $66.63, for a total value of $1,135,375.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christine A. Janofsky sold 7,928 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.62, for a total value of $496,451.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,206 shares of company stock valued at $2,920,586. 1.50% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Gemmer Asset Management LLC lifted its position in Lincoln National by 89.7% in the first quarter. Gemmer Asset Management LLC now owns 423 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 200 shares during the period. NuWave Investment Management LLC raised its stake in Lincoln National by 603.1% during the 1st quarter. NuWave Investment Management LLC now owns 450 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 386 shares during the period. Horan Capital Advisors LLC. acquired a new stake in Lincoln National during the 1st quarter valued at $34,000. JOYN Advisors Inc. raised its stake in Lincoln National by 24.6% during the 4th quarter. JOYN Advisors Inc. now owns 937 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 185 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in Lincoln National during the 1st quarter valued at $51,000. 80.57% of the stock is owned by institutional investors.

Lincoln National Company Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.

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