Lincoln National (NYSE:LNC) Price Target Cut to $44.00 by Analysts at Barclays

Lincoln National (NYSE:LNC) had its price objective cut by Barclays from $45.00 to $44.00 in a research note released on Wednesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

LNC has been the subject of several other research reports. Morgan Stanley cut 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. TD Cowen dropped their target price 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. Wells Fargo & Company raised shares of Lincoln National from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $41.00 to $48.00 in a report on Wednesday, February 25th. National Bank Financial set a $45.00 price target on shares of Lincoln National in a research report on Thursday, January 8th. Finally, 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 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Lincoln National has an average rating of “Hold” and an average price target of $45.46.

Lincoln National Price Performance

Shares of NYSE LNC opened at $33.13 on Wednesday. The stock has a market capitalization of $6.30 billion, a PE ratio of 6.24, a P/E/G ratio of 1.51 and a beta of 1.30. 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 business has a fifty day moving average price of $39.81 and a two-hundred day moving average price of $41.01. Lincoln National has a fifty-two week low of $27.58 and a fifty-two week high of $46.82.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share for the quarter, beating 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 firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the prior year, the company posted $1.91 EPS. The company’s 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 fiscal year.

Lincoln National Dividend Announcement

The business 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 $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 5.4%. Lincoln National’s dividend payout ratio is 33.90%.

Insider Activity at Lincoln National

In related news, major shareholder National Life Insuranc Lincoln purchased 2,254,486 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were bought at an average cost of $11.09 per share, with a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Waltman Reid sold 3,050 shares of the company’s stock in a transaction that occurred on 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 owned 118,567 shares of the company’s stock, valued at approximately $4,957,286.27. This represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In 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 insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LNC. Insight Inv LLC lifted its stake in shares of Lincoln National by 0.5% in the 4th 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 last quarter. Smartleaf Asset Management LLC increased its holdings in Lincoln National by 6.5% in the 4th 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 in the last quarter. Phillips Financial Management LLC raised 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 valued at $881,000 after purchasing an additional 254 shares during the last quarter. CWM LLC boosted its stake in shares of Lincoln National by 2.1% during the fourth quarter. CWM LLC now owns 12,397 shares of the financial services provider’s stock valued at $552,000 after purchasing an additional 255 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of Lincoln National by 3.2% during the second quarter. Evergreen Capital Management LLC now owns 8,815 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 275 shares in the last quarter. 72.81% of the stock is currently owned by institutional investors and hedge funds.

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.