Morgan Stanley Trims Lincoln National (NYSE:LNC) Target Price to $75.00

Lincoln National (NYSE:LNC) had its target price cut by Morgan Stanley from $76.00 to $75.00 in a report published on Tuesday, BenzingaRatingsTable reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. set a $92.00 target price on shares of Lincoln National and gave the company a buy rating in a report on Thursday, May 2nd. Barclays set a $69.00 target price on shares of Lincoln National and gave the company a buy rating in a report on Monday, August 12th. Wells Fargo & Co reiterated a hold rating and issued a $69.00 target price on shares of Lincoln National in a report on Wednesday, July 31st. UBS Group boosted their target price on shares of Lincoln National from $67.00 to $69.00 and gave the company a neutral rating in a report on Thursday, May 2nd. Finally, Goldman Sachs Group upgraded shares of Lincoln National from a neutral rating to a buy rating and boosted their target price for the company from $65.00 to $77.00 in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $75.10.

LNC opened at $54.26 on Tuesday. The firm has a market capitalization of $10.64 billion, a PE ratio of 6.40, a PEG ratio of 0.64 and a beta of 1.91. Lincoln National has a twelve month low of $48.07 and a twelve month high of $71.27. The firm’s 50-day moving average price is $61.45 and its 200 day moving average price is $62.45. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.30.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.04. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.46 billion. Lincoln National had a net margin of 8.74% and a return on equity of 11.85%. Lincoln National’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 earnings per share. As a group, analysts predict that Lincoln National will post 9.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $1.48 annualized dividend and a yield of 2.73%. Lincoln National’s payout ratio is 17.45%.

In other news, CAO Christine A. Janofsky sold 7,928 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $62.62, for a total value of $496,451.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Lisa Buckingham sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $62.70, for a total transaction of $532,950.00. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Natixis lifted its holdings in shares of Lincoln National by 3.6% in the 2nd quarter. Natixis now owns 122,611 shares of the financial services provider’s stock worth $7,902,000 after acquiring an additional 4,240 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Lincoln National by 108.5% in the 2nd quarter. Royal Bank of Canada now owns 551,565 shares of the financial services provider’s stock worth $35,549,000 after acquiring an additional 287,041 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Lincoln National by 4.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,182 shares of the financial services provider’s stock worth $1,174,000 after acquiring an additional 802 shares during the last quarter. Private Capital Group LLC lifted its holdings in shares of Lincoln National by 39.5% in the 2nd quarter. Private Capital Group LLC now owns 1,184 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 335 shares during the last quarter. Finally, Eaton Vance Management lifted its holdings in shares of Lincoln National by 3.5% in the 2nd quarter. Eaton Vance Management now owns 86,061 shares of the financial services provider’s stock worth $5,547,000 after acquiring an additional 2,950 shares during the last quarter. Hedge funds and other institutional investors own 80.26% of the company’s stock.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.

Featured Article: What are the benefits of investing in REITs?

Analyst Recommendations for Lincoln National (NYSE:LNC)

Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.