Lincoln National (NYSE:LNC) Price Target Raised to $37.00

Lincoln National (NYSE:LNC) had its price target raised by TD Cowen from $34.00 to $37.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company increased their price objective on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Morgan Stanley decreased their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays increased their price objective on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. Piper Sandler reduced their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Lincoln National currently has a consensus rating of “Hold” and an average price target of $33.25.

Lincoln National Stock Up 0.3 %

Shares of Lincoln National stock opened at $35.56 on Wednesday. Lincoln National has a 1 year low of $23.40 and a 1 year high of $36.98. The business has a 50-day moving average of $33.32 and a two-hundred day moving average of $32.00. The company has a market capitalization of $6.06 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, equities analysts predict that Lincoln National will post 6.53 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.06%. Lincoln National’s payout ratio is 128.57%.

Insider Activity

In other news, EVP John Christopher Kennedy sold 2,863 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the transaction, the executive vice president now owns 99,644 shares in the company, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lincoln National

Large investors have recently made changes to their positions in the company. Whittier Trust Co. increased its stake in shares of Lincoln National by 106.7% during the second quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 431 shares during the period. Adirondack Trust Co. bought a new position in shares of Lincoln National during the second quarter worth approximately $31,000. Blue Trust Inc. increased its stake in shares of Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 905 shares during the period. Larson Financial Group LLC increased its stake in shares of Lincoln National by 95.3% during the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 530 shares during the period. Finally, Eastern Bank bought a new position in Lincoln National during the 3rd quarter worth $40,000. Institutional investors own 72.81% of the company’s stock.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.