Lincoln National (NYSE:LNC) Trading Down 7.9% on Analyst Downgrade

Lincoln National Corporation (NYSE:LNC)’s share price traded down 7.9% during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $54.00 to $50.00. Morgan Stanley currently has an overweight rating on the stock. Lincoln National traded as low as $37.29 and last traded at $36.7540. 408,177 shares were traded during trading, a decline of 78% from the average session volume of 1,845,262 shares. The stock had previously closed at $39.90.

A number of other analysts also recently weighed in on the stock. Piper Sandler upped their price target on shares of Lincoln National from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, December 23rd. Keefe, Bruyette & Woods upped their target price on Lincoln National from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Zacks Research downgraded Lincoln National from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 4th. Wells Fargo & Company boosted their price target on Lincoln National from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. Finally, Jefferies Financial Group upped their price objective on Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.00.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, EVP James Waltman Reid sold 3,050 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total value of $127,520.50. Following the completion of the transaction, the executive vice president directly owned 118,567 shares in the company, valued at approximately $4,957,286.27. This trade represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Christopher Kennedy sold 3,519 shares of Lincoln National stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total value of $155,363.85. Following the sale, the executive vice president directly owned 118,985 shares in the company, valued at $5,253,187.75. The trade was a 2.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

A number of institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its position in shares of Lincoln National by 145.5% during the third quarter. Nisa Investment Advisors LLC now owns 116,116 shares of the financial services provider’s stock valued at $4,683,000 after purchasing an additional 68,827 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Lincoln National by 30.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,931 shares of the financial services provider’s stock valued at $8,180,000 after buying an additional 47,419 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Lincoln National by 101.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 285,105 shares of the financial services provider’s stock valued at $11,498,000 after buying an additional 143,862 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Lincoln National by 21.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider’s stock worth $240,051,000 after buying an additional 1,035,505 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Lincoln National by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider’s stock worth $802,717,000 after buying an additional 1,183,934 shares during the last quarter. 72.81% of the stock is owned by institutional investors.

Lincoln National Trading Down 10.6%

The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $6.78 billion, a P/E ratio of 6.72, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The firm has a fifty day moving average price of $42.62 and a 200-day moving average price of $41.50.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.35. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. Lincoln National’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.91 earnings per share. On average, equities research analysts anticipate that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Friday, April 10th. Lincoln National’s payout ratio is 33.90%.

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.