Lincoln National (NYSE:LNC) Price Target Raised to $42.00

Lincoln National (NYSE:LNC) had its price target increased by TD Cowen from $37.00 to $42.00 in a report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other research firms have also issued reports on LNC. JPMorgan Chase & Co. increased their target price on Lincoln National from $40.00 to $42.00 and gave the company an “underweight” rating in a report on Tuesday. Keefe, Bruyette & Woods increased their price target on shares of Lincoln National from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. Jefferies Financial Group raised their price target on shares of Lincoln National from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Wells Fargo & Company boosted their price objective on shares of Lincoln National from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Morgan Stanley cut their target price on shares of Lincoln National from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.21.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $41.32 on Wednesday. The company has a market capitalization of $7.90 billion, a PE ratio of 4.79, a price-to-earnings-growth ratio of 2.88 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a fifty day moving average of $37.42 and a 200-day moving average of $37.51. Lincoln National has a one year low of $32.18 and a one year high of $46.82.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the previous year, the firm posted $1.60 EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities analysts anticipate that Lincoln National will post 7.73 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a $0.45 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 4.4%. Lincoln National’s dividend payout ratio is currently 20.88%.

Insiders Place Their Bets

In related news, EVP Craigt T. Beazer sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total value of $1,033,500.00. Following the transaction, the executive vice president directly owned 103,906 shares of the company’s stock, valued at approximately $3,579,561.70. This trade represents a 22.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.03% of the stock is currently owned by company insiders.

Institutional Trading of Lincoln National

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Lincoln National in the 4th quarter valued at $4,742,000. Wealthstar Advisors LLC bought a new stake in shares of Lincoln National in the first quarter valued at about $1,183,000. Oxbow Advisors LLC lifted its stake in shares of Lincoln National by 22.1% in the fourth quarter. Oxbow Advisors LLC now owns 231,208 shares of the financial services provider’s stock valued at $10,296,000 after buying an additional 41,817 shares during the period. Hsbc Holdings PLC grew its position in Lincoln National by 10.9% during the fourth quarter. Hsbc Holdings PLC now owns 1,360,587 shares of the financial services provider’s stock worth $60,495,000 after buying an additional 133,388 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Lincoln National by 25.4% during the first quarter. Bessemer Group Inc. now owns 203,973 shares of the financial services provider’s stock worth $7,241,000 after buying an additional 41,345 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.