Lincoln National (NYSE:LNC) Given New $42.00 Price Target at JPMorgan Chase & Co.

Lincoln National (NYSE:LNC) had its price target upped by JPMorgan Chase & Co. from $40.00 to $42.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Weiss Ratings cut Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Mizuho increased their price objective on Lincoln National from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Jefferies Financial Group boosted their price target on Lincoln National from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Morgan Stanley reduced their price target on Lincoln National from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Finally, National Bank Financial set a $51.00 price objective on Lincoln National in a research note on Thursday, July 9th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lincoln National has an average rating of “Hold” and a consensus price target of $44.93.

Lincoln National Stock Performance

NYSE LNC opened at $41.81 on Tuesday. The company’s fifty day moving average is $37.00 and its two-hundred day moving average is $37.53. Lincoln National has a 52-week low of $32.18 and a 52-week high of $46.82. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $7.99 billion, a price-to-earnings ratio of 4.85, a P/E/G ratio of 2.94 and a beta of 1.17.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.Lincoln National’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.60 earnings per share. Equities research analysts forecast that Lincoln National will post 7.73 EPS for the current year.

Lincoln National Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National’s dividend payout ratio (DPR) is currently 20.88%.

Insiders Place Their Bets

In other news, EVP Craigt T. Beazer sold 30,000 shares of Lincoln National stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the transaction, the executive vice president owned 103,906 shares in the company, valued at $3,579,561.70. This trade represents a 22.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lincoln National

Hedge funds have recently made changes to their positions in the stock. JPL Wealth Management LLC bought a new stake in Lincoln National in the third quarter valued at approximately $29,000. V Square Quantitative Management LLC purchased a new position in shares of Lincoln National in the fourth quarter valued at about $31,000. Transamerica Financial Advisors LLC bought a new position in shares of Lincoln National during the fourth quarter valued at about $32,000. NBT Bank N A NY raised its stake in shares of Lincoln National by 2,051.1% during the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 923 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Lincoln National during the fourth quarter worth about $34,000. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

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.