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

Lincoln National (NYSE:LNC – Get Rating) had its target price decreased by Barclays from $66.00 to $58.00 in a report released on Tuesday morning, The Fly reports.

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

Shares of NYSE:LNC opened at $55.77 on Tuesday. Lincoln National has a 52-week low of $55.19 and a 52-week high of $77.57. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 0.27 and a beta of 1.90. The company has a quick ratio of 0.22, a current ratio of 0.21 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $63.89 and a 200-day moving average price of $67.98.

Lincoln National (NYSE:LNC – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.82 by ($0.16). Lincoln National had a return on equity of 7.68% and a net margin of 6.62%. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.80 billion. During the same quarter in the previous year, the business earned $1.82 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that Lincoln National will post 9.8 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 2nd. Shareholders of record on Monday, April 11th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Friday, April 8th. Lincoln National’s payout ratio is currently 26.47%.

Several institutional investors and hedge funds have recently modified their holdings of LNC. Russell Investments Group Ltd. lifted its stake in shares of Lincoln National by 15.3% in the third quarter. Russell Investments Group Ltd. now owns 178,206 shares of the financial services provider’s stock worth $12,302,000 after buying an additional 23,581 shares in the last quarter. Ieq Capital LLC lifted its stake in shares of Lincoln National by 31.1% in the third quarter. Ieq Capital LLC now owns 6,257 shares of the financial services provider’s stock worth $430,000 after buying an additional 1,484 shares in the last quarter. Commerce Bank lifted its stake in shares of Lincoln National by 93.3% in the third quarter. Commerce Bank now owns 6,689 shares of the financial services provider’s stock worth $460,000 after buying an additional 3,228 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Lincoln National by 47.4% in the third quarter. First Horizon Advisors Inc. now owns 740 shares of the financial services provider’s stock worth $51,000 after buying an additional 238 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Lincoln National by 0.6% in the third quarter. Principal Financial Group Inc. now owns 225,374 shares of the financial services provider’s stock worth $15,494,000 after buying an additional 1,245 shares in the last quarter. Hedge funds and other institutional investors own 86.40% of the company’s stock.

About Lincoln National (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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