Citigroup Initiates Coverage on Lincoln National (NYSE:LNC)

Analysts at Citigroup initiated coverage on shares of Lincoln National (NYSE:LNCGet Rating) in a research note issued on Monday, The Fly reports. The firm set a “neutral” rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. StockNews.com began coverage on Lincoln National in a report on Thursday, March 31st. They set a “hold” rating on the stock. The Goldman Sachs Group cut Lincoln National from a “buy” rating to a “neutral” rating and set a $74.00 price target on the stock. in a research report on Tuesday, March 1st. Barclays dropped their price target on Lincoln National from $66.00 to $58.00 in a research report on Tuesday, May 10th. Jefferies Financial Group assumed coverage on Lincoln National in a research report on Tuesday, January 25th. They set a “buy” rating and a $80.00 price target on the stock. Finally, Morgan Stanley dropped their price target on Lincoln National from $81.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. One equities 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $75.73.

NYSE:LNC traded up $1.36 during trading hours on Monday, reaching $54.04. 151,570 shares of the stock were exchanged, compared to its average volume of 1,544,895. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.45. The firm has a 50 day simple moving average of $62.46 and a 200-day simple moving average of $66.68. Lincoln National has a 52 week low of $50.55 and a 52 week high of $77.57. The stock has a market capitalization of $9.29 billion, a P/E ratio of 7.95, a P/E/G ratio of 0.27 and a beta of 1.90.

Lincoln National (NYSE:LNCGet Rating) last released its earnings results on Wednesday, May 4th. The financial services provider reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.31). 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 for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the business earned $1.82 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. As a group, analysts expect that Lincoln National will post 9.79 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lyrical Asset Management LP boosted its stake in Lincoln National by 1.2% during the 1st quarter. Lyrical Asset Management LP now owns 4,147,536 shares of the financial services provider’s stock valued at $271,083,000 after purchasing an additional 49,765 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Lincoln National by 19.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,401,204 shares of the financial services provider’s stock valued at $222,304,000 after purchasing an additional 564,100 shares in the last quarter. Geode Capital Management LLC boosted its stake in Lincoln National by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,263,576 shares of the financial services provider’s stock valued at $223,766,000 after purchasing an additional 46,729 shares in the last quarter. Invesco Ltd. boosted its stake in Lincoln National by 15.9% during the 1st quarter. Invesco Ltd. now owns 3,005,501 shares of the financial services provider’s stock valued at $196,440,000 after purchasing an additional 411,343 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Lincoln National by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,900,801 shares of the financial services provider’s stock worth $189,613,000 after acquiring an additional 113,356 shares in the last quarter. 86.40% of the stock is owned by hedge funds and other 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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