Lincoln National (NYSE:LNC) Given New $42.00 Price Target at TD Cowen

Lincoln National (NYSE:LNC) had its target price upped by TD Cowen from $37.00 to $42.00 in a report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on the company. Barclays raised Lincoln National from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $42.00 to $45.00 in a research note on Monday, July 6th. Wells Fargo & Company increased their price objective on shares of Lincoln National from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of Lincoln National from a “buy (b-)” rating to a “hold (c)” rating in a report on Monday, May 11th. UBS Group lifted their target price on shares of Lincoln National from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lincoln National from $40.00 to $42.00 and gave the company an “underweight” rating in a report on Tuesday. Six equities research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.21.

Lincoln National Stock Performance

Shares of LNC opened at $41.68 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.65. Lincoln National has a 52-week low of $32.18 and a 52-week high of $46.82. The company has a 50-day simple moving average of $37.15 and a 200-day simple moving average of $37.51. The company has a market capitalization of $7.97 billion, a PE ratio of 4.84, a P/E/G ratio of 2.96 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 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.93 billion. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 earnings per share. Equities research analysts predict that Lincoln National will post 7.73 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

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 paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National’s payout ratio is presently 20.88%.

Insiders Place Their Bets

In other Lincoln National news, EVP Craigt T. Beazer sold 30,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was 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 directly owned 103,906 shares in the company, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bain Capital Prairie LLC acquired a new stake in shares of Lincoln National in the fourth quarter worth approximately $835,360,000. Norges Bank purchased a new stake in Lincoln National in the fourth quarter valued at approximately $101,114,000. Dimensional Fund Advisors LP increased its position in Lincoln National by 24.4% during the first quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider’s stock worth $275,304,000 after purchasing an additional 1,522,179 shares during the last quarter. Jennison Associates LLC increased its position in Lincoln National by 58.7% during the fourth quarter. Jennison Associates LLC now owns 3,681,158 shares of the financial services provider’s stock worth $163,922,000 after purchasing an additional 1,361,835 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Lincoln National during the third quarter worth approximately $29,831,000. Hedge funds and other institutional investors own 72.81% of the company’s stock.

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.