Piper Sandler Trims Lincoln National (NYSE:LNC) Target Price to $34.00

Lincoln National (NYSE:LNC) had its price target reduced by investment analysts at Piper Sandler from $37.00 to $34.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price suggests a potential upside of 9.96% from the company’s previous close.

A number of other analysts have also issued reports on LNC. Bank of America dropped their price target on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Jefferies Financial Group increased their price target on shares of Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Morgan Stanley decreased their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. increased their target price on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Finally, Barclays began coverage on Lincoln National in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $32.64.

Lincoln National Stock Performance

Shares of LNC stock opened at $30.92 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. The company’s fifty day moving average price is $30.97 and its two-hundred day moving average price is $30.69. The firm has a market capitalization of $5.26 billion, a P/E ratio of 4.23, a P/E/G ratio of 0.31 and a beta of 1.81. Lincoln National has a 12 month low of $20.85 and a 12 month high of $36.46.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The firm had revenue of $5.15 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the business posted $2.02 earnings per share. On average, research analysts anticipate that Lincoln National will post 5.71 earnings per share for the current fiscal year.

Institutional Trading of Lincoln National

A number of large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Lincoln National by 26.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,212 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 1,725 shares during the period. TD Asset Management Inc acquired a new stake in Lincoln National in the 4th quarter valued at approximately $2,692,000. Treasurer of the State of North Carolina increased its position in Lincoln National by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 74,947 shares of the financial services provider’s stock valued at $2,021,000 after acquiring an additional 730 shares during the period. CIBC Asset Management Inc boosted its position in Lincoln National by 82.5% during the 4th quarter. CIBC Asset Management Inc now owns 79,130 shares of the financial services provider’s stock worth $2,134,000 after acquiring an additional 35,766 shares during the period. Finally, Waterloo Capital L.P. acquired a new position in Lincoln National during the 4th quarter worth $1,903,000. Institutional investors and hedge funds 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.