Brokerages Set Lincoln National Corporation (NYSE:LNC) Target Price at $39.22

Shares of Lincoln National Corporation (NYSE:LNC) have received an average rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $39.70.

LNC has been the topic of several research reports. Cfra Research upgraded shares of Lincoln National to a “hold” rating in a research note on Wednesday, August 6th. Piper Sandler dropped their price objective on shares of Lincoln National from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Lincoln National from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lincoln National from $38.00 to $41.00 and gave the company an “underweight” rating in a research note on Tuesday, July 8th.

Insider Buying and Selling at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares in the company, valued at $4,864,691.35. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Kroll sold 10,075 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total transaction of $333,482.50. Following the transaction, the executive vice president owned 48,743 shares in the company, valued at approximately $1,613,393.30. This trade represents a 17.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,697 shares of company stock worth $1,959,862. 0.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in shares of Lincoln National by 0.7% during the 2nd quarter. State Street Corp now owns 6,199,526 shares of the financial services provider’s stock worth $214,504,000 after purchasing an additional 40,676 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Lincoln National by 1.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,916,661 shares of the financial services provider’s stock worth $170,116,000 after purchasing an additional 61,873 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Lincoln National by 20.0% during the 2nd quarter. First Trust Advisors LP now owns 4,645,447 shares of the financial services provider’s stock worth $160,732,000 after purchasing an additional 774,721 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lincoln National by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider’s stock worth $110,753,000 after purchasing an additional 208,114 shares during the last quarter. Finally, LSV Asset Management increased its stake in shares of Lincoln National by 16.9% during the 2nd quarter. LSV Asset Management now owns 2,736,180 shares of the financial services provider’s stock worth $94,672,000 after purchasing an additional 394,584 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Stock Up 0.6%

LNC stock opened at $40.8250 on Friday. Lincoln National has a 52-week low of $27.58 and a 52-week high of $41.08. The company’s 50 day simple moving average is $35.65 and its 200-day simple moving average is $34.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $7.74 billion, a P/E ratio of 7.12, a P/E/G ratio of 0.56 and a beta of 1.42.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.45. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the business earned $1.87 earnings per share. As a group, equities research analysts anticipate that Lincoln National will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, October 10th. Lincoln National’s dividend payout ratio is currently 31.41%.

Lincoln National Company Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.