Lincoln National (NYSE:LNC) Given New $46.00 Price Target at Morgan Stanley

Lincoln National (NYSE:LNC) had its target price trimmed by Morgan Stanley from $50.00 to $46.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on the stock. National Bank Financial set a $45.00 target price on shares of Lincoln National in a research note on Thursday, January 8th. Zacks Research cut Lincoln National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Piper Sandler raised their target price on Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 23rd. TD Cowen restated a “hold” rating on shares of Lincoln National in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group increased their price objective on shares of Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.25.

Lincoln National Price Performance

NYSE LNC opened at $34.02 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 6.41, a PEG ratio of 1.54 and a beta of 1.30. The stock has a 50-day moving average of $41.16 and a 200 day moving average of $41.30. Lincoln National has a one year low of $27.58 and a one year high of $46.82.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.35. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the firm posted $1.91 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Lincoln National will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.3%. Lincoln National’s dividend payout ratio is 33.90%.

Insider Activity

In related news, EVP Sean Woodroffe sold 10,000 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $34.46, for a total value of $344,600.00. Following the completion of the transaction, the executive vice president owned 206,159 shares of the company’s stock, valued at approximately $7,104,239.14. This represents a 4.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James Waltman Reid sold 3,050 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $41.81, for a total value of $127,520.50. Following the completion of the transaction, the executive vice president owned 118,567 shares in the company, valued at $4,957,286.27. The trade was a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,569 shares of company stock worth $627,484 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

A number of institutional investors have recently added to or reduced their stakes in LNC. V Square Quantitative Management LLC bought a new position in shares of Lincoln National during the fourth quarter worth $31,000. Transamerica Financial Advisors LLC bought a new position in shares of Lincoln National during the 4th quarter valued at about $32,000. JPL Wealth Management LLC purchased a new position in shares of Lincoln National during the third quarter valued at about $29,000. Salomon & Ludwin LLC purchased a new position in shares of Lincoln National during the third quarter valued at about $32,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of Lincoln National in the second quarter worth about $28,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

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.