Lincoln National (NYSE:LNC) Price Target Raised to $46.00

Lincoln National (NYSE:LNC) had its price target hoisted by Evercore ISI from $45.00 to $46.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has an in-line rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Wall Street Zen raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Morgan Stanley cut their price objective on shares of Lincoln National from $58.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Cfra Research raised shares of Lincoln National to a “hold” rating in a report on Wednesday, August 6th. Wolfe Research raised shares of Lincoln National to a “strong sell” rating in a report on Tuesday, September 16th. Finally, Wells Fargo & Company increased their price objective on shares of Lincoln National from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lincoln National currently has an average rating of “Reduce” and a consensus price target of $43.09.

Lincoln National Trading Down 4.5%

Lincoln National stock opened at $38.10 on Thursday. The firm has a 50 day moving average of $40.75 and a 200 day moving average of $35.88. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 6.65, a P/E/G ratio of 0.51 and a beta of 1.43. Lincoln National has a 12-month low of $27.58 and a 12-month high of $43.66. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.67.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.45. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. During the same period in the prior year, the firm posted $1.87 EPS. As a group, research analysts predict that Lincoln National will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, October 10th. Lincoln National’s dividend payout ratio is currently 31.41%.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the completion of the transaction, the executive vice president directly owned 123,815 shares in the company, valued at approximately $4,864,691.35. This represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management boosted its position in shares of Lincoln National by 383.2% during the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 594 shares during the last quarter. Advisors Asset Management Inc. bought a new position in shares of Lincoln National during the 2nd quarter valued at approximately $28,000. Ameritas Advisory Services LLC bought a new position in shares of Lincoln National during the 2nd quarter valued at approximately $29,000. NBC Securities Inc. bought a new position in shares of Lincoln National during the 1st quarter valued at approximately $33,000. Finally, Brooklyn Investment Group lifted its position in Lincoln National by 82.9% in the first quarter. Brooklyn Investment Group now owns 1,156 shares of the financial services provider’s stock worth $42,000 after buying an additional 524 shares during the last quarter. 72.81% of the stock is currently owned by institutional investors.

Lincoln National Company Profile

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.