Wells Fargo & Company Has Lowered Expectations for Lincoln National (NYSE:LNC) Stock Price

Lincoln National (NYSE:LNC) had its price target reduced by analysts at Wells Fargo & Company from $48.00 to $43.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 25.58% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Mizuho assumed coverage on Lincoln National in a research note on Tuesday, December 16th. They set an “outperform” rating and a $52.00 price objective on the stock. Morgan Stanley decreased their price objective on shares of Lincoln National from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Piper Sandler lifted their price objective on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. UBS Group decreased their price objective on shares of Lincoln National from $43.00 to $37.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, TD Cowen decreased their price objective on shares of Lincoln National from $43.00 to $38.00 and set a “hold” rating for the company in a research report on Monday, March 9th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.38.

Lincoln National Price Performance

Shares of NYSE LNC opened at $34.24 on Friday. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 6.45, a PEG ratio of 1.55 and a beta of 1.23. The business has a 50-day moving average of $36.36 and a 200-day moving average of $39.90. 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 has a fifty-two week low of $28.23 and a fifty-two week high of $46.82.

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

Insider Buying and Selling

In other Lincoln National news, major shareholder National Life Insuranc Lincoln purchased 2,254,486 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $11.09 per share, with a total value of $25,002,249.74. Following the completion of the transaction, the insider owned 9,784,322 shares in the company, valued at $108,508,130.98. The trade was a 29.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Waltman Reid sold 3,050 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total transaction of $127,520.50. Following the transaction, the executive vice president directly owned 118,567 shares in the company, valued at approximately $4,957,286.27. This represents a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 21,050 shares of company stock valued at $734,041. 0.51% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LNC. JPL Wealth Management LLC bought a new position in shares of Lincoln National in the third quarter worth $29,000. V Square Quantitative Management LLC bought a new stake in shares of Lincoln National during the 4th quarter worth approximately $31,000. Salomon & Ludwin LLC bought a new stake in shares of Lincoln National during the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors LLC bought a new stake in shares of Lincoln National during the 4th quarter worth approximately $32,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Lincoln National during the 4th quarter worth approximately $34,000. Institutional investors own 72.81% of the company’s stock.

About Lincoln National

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.