Lincoln National (NYSE:LNC) Price Target Lowered to $48.00 at Mizuho

Lincoln National (NYSE:LNC) had its price target trimmed by Mizuho from $54.00 to $48.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently commented on the stock. Piper Sandler upped their price objective on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Morgan Stanley decreased their target price on Lincoln National from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Jefferies Financial Group boosted their target price on Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Keefe, Bruyette & Woods reiterated a “moderate buy” rating and set a $43.00 target price on shares of Lincoln National in a report on Thursday, March 26th. Finally, Barclays decreased their target price on Lincoln National from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, April 8th. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.31.

Lincoln National Trading Up 2.0%

NYSE LNC opened at $34.90 on Monday. Lincoln National has a 12 month low of $28.98 and a 12 month high of $46.82. The company has a 50-day moving average of $36.21 and a 200-day moving average of $39.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $6.63 billion, a P/E ratio of 6.57, a P/E/G ratio of 1.55 and a beta of 1.23.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, February 12th. The financial services provider reported $2.21 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 company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company posted $1.91 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that Lincoln National will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, April 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.2%. Lincoln National’s payout ratio is presently 33.90%.

Insider Transactions at Lincoln National

In other news, major shareholder National Life Insuranc Lincoln bought 2,254,486 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average price of $11.09 per share, for a total transaction of $25,002,249.74. Following the acquisition, the insider owned 9,784,322 shares of the company’s stock, valued at $108,508,130.98. This trade represents a 29.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sean Woodroffe sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $32.74, for a total value of $261,920.00. Following the completion of the transaction, the executive vice president owned 198,159 shares of the company’s stock, valued at approximately $6,487,725.66. This represents a 3.88% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,050 shares of company stock worth $734,041. 0.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lincoln National

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Lincoln National by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider’s stock worth $802,717,000 after acquiring an additional 1,183,934 shares during the period. Bain Capital Prairie LLC purchased a new position in Lincoln National in the 4th quarter worth approximately $835,360,000. Dimensional Fund Advisors LP boosted its holdings in Lincoln National by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,233,327 shares of the financial services provider’s stock worth $277,574,000 after acquiring an additional 502,600 shares during the period. State Street Corp boosted its holdings in Lincoln National by 0.7% in the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock worth $214,504,000 after acquiring an additional 40,676 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Lincoln National by 21.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider’s stock worth $240,051,000 after acquiring an additional 1,035,505 shares during the period. Hedge funds and other 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.