Lincoln National (NYSE:LNC) Price Target Cut to $30.00

Lincoln National (NYSE:LNC) had its target price cut by research analysts at Piper Sandler from $32.00 to $30.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 2.99% from the company’s previous close.

Several other equities research analysts have also recently weighed in on LNC. Wells Fargo & Company raised their price objective on shares of Lincoln National from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Jefferies Financial Group raised Lincoln National from an “underperform” rating to a “hold” rating in a report on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on Lincoln National from $26.00 to $29.00 and gave the company an “underweight” rating in a research note on Tuesday, April 2nd. TheStreet lowered Lincoln National from a “c” rating to a “d+” rating in a research note on Thursday, February 8th. Finally, The Goldman Sachs Group lifted their price objective on Lincoln National from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $28.27.

Lincoln National Stock Performance

NYSE LNC opened at $29.13 on Monday. Lincoln National has a 1-year low of $18.50 and a 1-year high of $32.43. The company has a 50 day moving average of $28.53 and a 200-day moving average of $26.68. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.87. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 3.98, a PEG ratio of 0.18 and a beta of 1.80.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.13. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. On average, equities analysts forecast that Lincoln National will post 6.25 earnings per share for the current fiscal year.

Insider Transactions at Lincoln National

In other news, Director Owen Ryan acquired 10,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $25.90 per share, for a total transaction of $259,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $259,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lincoln National

Several institutional investors and hedge funds have recently modified their holdings of LNC. Central Pacific Bank Trust Division bought a new position in Lincoln National in the first quarter valued at approximately $25,000. Financial Gravity Asset Management Inc. boosted its stake in Lincoln National by 3,930.8% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 1,022 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Lincoln National in the 4th quarter worth $27,000. Transcendent Capital Group LLC bought a new position in Lincoln National during the 4th quarter worth about $35,000. Finally, CVA Family Office LLC acquired a new stake in shares of Lincoln National in the 4th quarter valued at about $37,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

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.