Lincoln National (NYSE:LNC) Price Target Lowered to $38.00 at TD Cowen

Lincoln National (NYSE:LNC) had its price objective cut by TD Cowen from $43.00 to $38.00 in a report published on Monday,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other equities analysts have also commented on LNC. Zacks Research lowered shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Piper Sandler raised their price objective on shares of Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Mizuho started coverage on shares of Lincoln National in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 target price for the company. Wells Fargo & Company raised Lincoln National from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $41.00 to $48.00 in a report on Wednesday, February 25th. Finally, National Bank Financial set a $45.00 price target on Lincoln National in a research report on Thursday, January 8th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Lincoln National has an average rating of “Hold” and an average price target of $45.62.

Lincoln National Stock Performance

Lincoln National stock opened at $34.09 on Monday. The firm has a market capitalization of $6.48 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.52 and a beta of 1.30. The stock has a fifty day moving average price of $40.26 and a two-hundred day moving average price of $41.13. Lincoln National has a 52-week low of $27.58 and a 52-week high of $46.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, beating the consensus estimate of $1.86 by $0.35. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.85 billion. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.91 EPS. As a group, analysts anticipate that Lincoln National will post 7.69 EPS for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders 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 payout ratio is currently 33.90%.

Insider Activity at Lincoln National

In related news, major shareholder National Life Insuranc Lincoln purchased 2,300,098 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were acquired at an average cost of $10.87 per share, with a total value of $25,002,065.26. Following the completion of the purchase, the insider directly owned 7,529,837 shares of the company’s stock, valued at $81,849,328.19. This trade represents a 43.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Christopher Kennedy sold 3,519 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total transaction of $155,363.85. Following the completion of the sale, the executive vice president directly owned 118,985 shares of the company’s stock, valued at approximately $5,253,187.75. This represents a 2.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,569 shares of company stock valued at $889,404 over the last ninety days. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Insight Inv LLC lifted its stake in shares of Lincoln National by 0.5% during the fourth quarter. Insight Inv LLC now owns 48,127 shares of the financial services provider’s stock valued at $2,143,000 after acquiring an additional 250 shares during the period. Smartleaf Asset Management LLC increased its position in Lincoln National by 6.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,110 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 252 shares during the period. Phillips Financial Management LLC increased its position in Lincoln National by 1.2% in the third quarter. Phillips Financial Management LLC now owns 21,857 shares of the financial services provider’s stock worth $881,000 after purchasing an additional 254 shares during the period. CWM LLC raised its holdings in Lincoln National by 2.1% during the 4th quarter. CWM LLC now owns 12,397 shares of the financial services provider’s stock worth $552,000 after purchasing an additional 255 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in Lincoln National by 3.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 275 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

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.