Lincoln National (NYSE:LNC) Price Target Raised to $42.00

Lincoln National (NYSE:LNC) had its price target upped by equities researchers at TD Cowen from $37.00 to $42.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective would indicate a potential upside of 0.74% from the stock’s previous close.

Several other brokerages also recently commented on LNC. JPMorgan Chase & Co. upped their price objective on shares of Lincoln National from $40.00 to $42.00 and gave the company an “underweight” rating in a research note on Tuesday. Wells Fargo & Company boosted their price target on Lincoln National from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Barclays raised Lincoln National from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $42.00 to $45.00 in a research report on Monday, July 6th. UBS Group increased their price objective on Lincoln National from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, National Bank Financial set a $51.00 target price on Lincoln National in a research note on Thursday, July 9th. Six research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.21.

Lincoln National Trading Down 0.3%

Shares of Lincoln National stock traded down $0.13 on Wednesday, hitting $41.69. The stock had a trading volume of 480,537 shares, compared to its average volume of 2,020,569. 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 one year low of $32.18 and a one year high of $46.82. The stock’s 50-day simple moving average is $37.00 and its two-hundred day simple moving average is $37.53. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 4.84, a PEG ratio of 2.94 and a beta of 1.17.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $4.87 billion during 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 was up 13.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 EPS. As a group, sell-side analysts predict that Lincoln National will post 7.73 EPS for the current year.

Insider Buying and Selling

In other Lincoln National news, EVP Craigt T. Beazer sold 30,000 shares of Lincoln National stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the sale, the executive vice president directly owned 103,906 shares of the company’s stock, valued at approximately $3,579,561.70. The trade was a 22.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LNC. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Lincoln National in the 4th quarter worth about $4,742,000. Wealthstar Advisors LLC bought a new stake in Lincoln National during the first quarter worth about $1,183,000. Oxbow Advisors LLC boosted its stake in Lincoln National by 22.1% during the fourth quarter. Oxbow Advisors LLC now owns 231,208 shares of the financial services provider’s stock worth $10,296,000 after acquiring an additional 41,817 shares in the last quarter. Bessemer Group Inc. grew its holdings in Lincoln National by 25.4% in the first quarter. Bessemer Group Inc. now owns 203,973 shares of the financial services provider’s stock worth $7,241,000 after purchasing an additional 41,345 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Lincoln National by 10.9% in the fourth quarter. Hsbc Holdings PLC now owns 1,360,587 shares of the financial services provider’s stock worth $60,495,000 after purchasing an additional 133,388 shares during the period. 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.