Barclays Cuts Lincoln National (NYSE:LNC) Price Target to $36.00

Lincoln National (NYSE:LNC) had its target price lowered by Barclays from $38.00 to $36.00 in a report released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on LNC. Piper Sandler cut their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their target price on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, TD Cowen boosted their price target on shares of Lincoln National from $34.00 to $37.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.25.

Lincoln National Stock Down 1.2 %

NYSE:LNC opened at $31.40 on Monday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. Lincoln National has a twelve month low of $25.09 and a twelve month high of $36.98. The company has a market cap of $5.35 billion, a PE ratio of 22.43, a P/E/G ratio of 0.29 and a beta of 1.78. The company’s 50 day moving average is $33.59 and its two-hundred day moving average is $32.22.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. Lincoln National’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. Analysts anticipate that Lincoln National will post 7.03 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.73%. Lincoln National’s dividend payout ratio (DPR) is 128.57%.

Insider Buying and Selling

In other news, EVP John Christopher Kennedy sold 2,863 shares of Lincoln National stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at $3,587,184. The trade was a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Lincoln National by 7.2% in the third quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock valued at $104,281,000 after purchasing an additional 223,129 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Lincoln National by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,271 shares of the financial services provider’s stock worth $1,252,000 after purchasing an additional 1,121 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Lincoln National in the 2nd quarter valued at approximately $1,548,000. Quantbot Technologies LP boosted its stake in Lincoln National by 46.4% during the 2nd quarter. Quantbot Technologies LP now owns 198,557 shares of the financial services provider’s stock valued at $6,175,000 after acquiring an additional 62,929 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Lincoln National by 7.6% in the second quarter. Public Sector Pension Investment Board now owns 374,076 shares of the financial services provider’s stock worth $11,634,000 after purchasing an additional 26,322 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

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.