TD Cowen Issues Positive Forecast for Lincoln National (NYSE:LNC) Stock Price

Lincoln National (NYSE:LNC) had its target price upped by research analysts at TD Cowen from $34.00 to $37.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective indicates a potential upside of 4.34% from the company’s current price.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company increased their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Piper Sandler decreased their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Barclays increased their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley decreased their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.25.

Lincoln National Stock Up 0.3 %

NYSE LNC traded up $0.10 during trading hours on Wednesday, hitting $35.46. The company’s stock had a trading volume of 137,567 shares, compared to its average volume of 1,621,553. Lincoln National has a 52 week low of $23.40 and a 52 week high of $36.98. The company has a market capitalization of $6.04 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. The company’s 50-day simple moving average is $33.14 and its two-hundred day simple moving average is $31.96.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The business had revenue of $4.11 billion for the quarter, compared to analysts’ expectations of $4.61 billion. During the same quarter last year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts anticipate that Lincoln National will post 6.53 EPS for the current fiscal year.

Insider Buying and Selling at Lincoln National

In related news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total value of $103,068.00. Following the transaction, the executive vice president now owns 99,644 shares in the company, valued at $3,587,184. This trade represents a 2.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lincoln National

A number of large investors have recently added to or reduced their stakes in LNC. Massachusetts Financial Services Co. MA purchased a new position in Lincoln National in the 2nd quarter worth $142,148,000. Principal Financial Group Inc. increased its position in shares of Lincoln National by 59.2% in the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after acquiring an additional 1,147,896 shares during the period. International Assets Investment Management LLC increased its position in shares of Lincoln National by 3,488.2% in the third quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock valued at $30,669,000 after acquiring an additional 939,447 shares during the period. AQR Capital Management LLC increased its position in shares of Lincoln National by 49.5% in the second quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock valued at $66,892,000 after acquiring an additional 711,951 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Lincoln National by 167.7% in the third quarter. Assenagon Asset Management S.A. now owns 600,212 shares of the financial services provider’s stock valued at $18,913,000 after acquiring an additional 375,989 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

About Lincoln National

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.