Lincoln National (NYSE:LNC) Upgraded by Jefferies Financial Group to Buy

Jefferies Financial Group upgraded shares of Lincoln National (NYSE:LNC) from a hold rating to a buy rating in a research report released on Wednesday morning, MarketBeat Ratings reports. Jefferies Financial Group currently has $34.00 target price on the financial services provider’s stock, up from their previous target price of $26.00.

Several other brokerages have also issued reports on LNC. Wells Fargo & Company reduced their target price on shares of Lincoln National from $28.00 to $27.00 and set an equal weight rating on the stock in a research note on Friday, May 10th. Evercore ISI lifted their target price on shares of Lincoln National from $33.00 to $35.00 and gave the stock an in-line rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their price target on Lincoln National from $26.00 to $29.00 and gave the company an underweight rating in a research note on Tuesday, April 2nd. TheStreet cut Lincoln National from a c rating to a d+ rating in a research note on Thursday, February 8th. Finally, Piper Sandler cut their target price on Lincoln National from $32.00 to $30.00 and set a neutral rating on the stock in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $29.90.

Lincoln National Price Performance

LNC opened at $32.67 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.26 and a quick ratio of 0.26. The company’s 50 day simple moving average is $29.40 and its 200-day simple moving average is $27.36. Lincoln National has a one year low of $20.47 and a one year high of $32.90. The stock has a market capitalization of $5.55 billion, a P/E ratio of 4.47, a price-to-earnings-growth ratio of 0.25 and a beta of 1.80.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.10 by $0.27. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.64 billion. Sell-side analysts anticipate that Lincoln National will post 5.91 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.51%. Lincoln National’s dividend payout ratio is presently 24.62%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Central Pacific Bank Trust Division acquired a new stake in shares of Lincoln National during the first quarter worth $25,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Lincoln National in the 4th quarter valued at about $27,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of Lincoln National by 3,930.8% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,022 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Lincoln National by 249.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after buying an additional 873 shares during the period. Finally, Westend Capital Management LLC bought a new position in shares of Lincoln National during the first quarter worth about $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.