Wells Fargo & Company Forecasts Strong Price Appreciation for Lincoln National (NYSE:LNC) Stock

Lincoln National (NYSE:LNC) had its price objective increased by stock analysts at Wells Fargo & Company from $52.00 to $54.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 32.99% from the stock’s current price.

A number of other research analysts have also weighed in on LNC. Morgan Stanley cut their price target on shares of Lincoln National from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. Barclays upped their price target on shares of Lincoln National from $45.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Mizuho lowered their price objective on shares of Lincoln National from $53.00 to $49.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. TD Cowen raised their price objective on shares of Lincoln National from $37.00 to $42.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Lincoln National from $51.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, October 9th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lincoln National has a consensus rating of “Hold” and a consensus target price of $48.25.

Lincoln National Trading Up 0.3%

NYSE LNC opened at $40.60 on Monday. Lincoln National has a one year low of $32.18 and a one year high of $47.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market cap of $7.77 billion, a P/E ratio of 3.52, a P/E/G ratio of 1.43 and a beta of 1.16. The stock’s 50-day moving average is $42.94 and its 200-day moving average is $39.30.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.28. Lincoln National had a return on equity of 17.35% and a net margin of 12.21%. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the firm earned $2.36 EPS. Lincoln National’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Lincoln National will post 7.95 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Sean Woodroffe sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $45.28, for a total value of $498,080.00. Following the completion of the sale, the executive vice president directly owned 119,947 shares in the company, valued at approximately $5,431,200.16. This trade represents a 8.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary C. Kelly sold 15,007 shares of Lincoln National stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total value of $397,685.50. The SEC filing for this sale provides additional information. 1.03% of the stock is owned by insiders.

Institutional Trading of Lincoln National

Institutional investors and hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new position in shares of Lincoln National during the 3rd quarter worth approximately $206,000. Wedmont Private Capital increased its holdings in shares of Lincoln National by 8.5% during the 3rd quarter. Wedmont Private Capital now owns 15,391 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 1,208 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Lincoln National by 8.8% during the 3rd quarter. GAMMA Investing LLC now owns 9,533 shares of the financial services provider’s stock worth $384,000 after acquiring an additional 774 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Lincoln National by 112.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 50,588 shares of the financial services provider’s stock valued at $2,037,000 after acquiring an additional 26,814 shares during the period. Finally, Versant Capital Management Inc raised its stake in Lincoln National by 24.1% in the 3rd quarter. Versant Capital Management Inc now owns 5,562 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 1,079 shares during the period. Institutional investors own 72.81% of the company’s stock.

About Lincoln National

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement solutions primarily in the United States. Its businesses serve individuals, families, employers and institutions through a portfolio of life insurance, annuities and workplace benefit products.

The company’s offerings include term and permanent life insurance, variable and fixed annuities, and retirement plan services designed to support income and financial planning needs.