Lincoln National (NYSE:LNC) Price Target Cut to $58.00

Lincoln National (NYSE:LNCGet Rating) had its price target cut by Barclays from $66.00 to $58.00 in a research note published on Tuesday, The Fly reports.

LNC has been the subject of several other reports. The Goldman Sachs Group cut Lincoln National from a buy rating to a neutral rating and set a $74.00 target price for the company. in a research report on Tuesday, March 1st. Jefferies Financial Group initiated coverage on Lincoln National in a research report on Tuesday, January 25th. They set a buy rating and a $80.00 target price for the company. StockNews.com initiated coverage on Lincoln National in a research report on Thursday, March 31st. They set a hold rating for the company. Morgan Stanley reduced their target price on Lincoln National from $81.00 to $80.00 and set an overweight rating for the company in a research report on Friday, April 8th. Finally, Wolfe Research initiated coverage on Lincoln National in a research report on Friday, January 21st. They set an outperform rating and a $99.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $75.42.

NYSE:LNC opened at $54.09 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.21 and a current ratio of 0.21. Lincoln National has a 52-week low of $50.55 and a 52-week high of $77.57. The firm has a market cap of $9.30 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 0.29 and a beta of 1.90. The business’s fifty day moving average is $63.19 and its 200 day moving average is $67.48.

Lincoln National (NYSE:LNCGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.31). Lincoln National had a net margin of 6.62% and a return on equity of 7.68%. The company had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts predict that Lincoln National will post 9.79 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Monday, April 11th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Friday, April 8th. Lincoln National’s dividend payout ratio (DPR) is presently 26.47%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd lifted its stake in shares of Lincoln National by 61.5% in the 3rd quarter. AustralianSuper Pty Ltd now owns 349,532 shares of the financial services provider’s stock valued at $24,030,000 after acquiring an additional 133,050 shares during the last quarter. Allianz Asset Management GmbH bought a new position in Lincoln National during the 3rd quarter valued at approximately $5,837,000. National Bank of Canada FI bought a new position in Lincoln National during the 4th quarter valued at approximately $5,035,000. Macquarie Group Ltd. raised its position in Lincoln National by 7.4% during the 3rd quarter. Macquarie Group Ltd. now owns 49,793 shares of the financial services provider’s stock valued at $3,423,000 after purchasing an additional 3,436 shares during the last quarter. Finally, Atlas Capital Advisors LLC raised its position in Lincoln National by 9.0% during the 4th quarter. Atlas Capital Advisors LLC now owns 2,318 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 192 shares during the last quarter. 86.40% of the stock is owned by institutional investors.

Lincoln National Company Profile (Get Rating)

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 fixed, variable, and indexed variable annuities.

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