TD Cowen Lowers Lincoln National (NYSE:LNC) Price Target to $38.00

Lincoln National (NYSE:LNC) had its price objective reduced by TD Cowen from $43.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective points to a potential upside of 14.01% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Piper Sandler increased their target price on Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, December 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lincoln National in a research report on Monday, December 29th. Zacks Research downgraded Lincoln National from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Wells Fargo & Company upgraded Lincoln National from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $41.00 to $48.00 in a research note on Wednesday, February 25th. Finally, Mizuho assumed coverage on Lincoln National in a report on Tuesday, December 16th. They set an “outperform” rating and a $52.00 target price for the company. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.62.

Lincoln National Price Performance

LNC stock traded down $0.71 during trading on Monday, hitting $33.33. 1,357,587 shares of the stock traded hands, compared to its average volume of 2,232,336. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 6.28, a P/E/G ratio of 1.52 and a beta of 1.30. Lincoln National has a one year low of $27.58 and a one year high of $46.82. The company has a 50 day simple moving average of $40.49 and a 200 day simple moving average of $41.17. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.59.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $1.91 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts expect that Lincoln National will post 7.69 EPS for the current fiscal year.

Insider Activity at Lincoln National

In other Lincoln National news, EVP James Waltman Reid sold 3,050 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $41.81, for a total transaction of $127,520.50. Following the transaction, the executive vice president directly owned 118,567 shares in the company, valued at $4,957,286.27. This represents a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder National Life Insuranc Lincoln purchased 2,254,486 shares of Lincoln National stock in a transaction dated Wednesday, February 25th. The shares were bought at an average cost of $11.09 per share, for a total transaction of $25,002,249.74. Following the transaction, the insider directly owned 9,784,322 shares of the company’s stock, valued at approximately $108,508,130.98. The trade was a 29.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 16,569 shares of company stock valued at $627,484. Insiders own 0.54% of the company’s stock.

Institutional Trading of Lincoln National

A number of institutional investors and hedge funds have recently modified their holdings of LNC. Baird Financial Group Inc. acquired a new stake in Lincoln National during the first quarter worth about $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Lincoln National by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock valued at $2,585,000 after purchasing an additional 16,991 shares during the period. Empowered Funds LLC grew its stake in Lincoln National by 316.9% during the 1st quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock worth $2,123,000 after buying an additional 44,936 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock worth $22,383,000 after buying an additional 29,421 shares during the period. Finally, Focus Partners Wealth lifted its stake in Lincoln National by 39.1% in the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock valued at $701,000 after buying an additional 5,486 shares during the last quarter. 72.81% of the stock is 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.