Lincoln National (NYSE:LNC) PT Lowered to $34.00

Lincoln National (NYSE:LNC) had its price target decreased by analysts at Piper Sandler from $37.00 to $34.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 11.62% from the company’s previous close.

Several other equities analysts have also recently weighed in on LNC. Bank of America cut their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Morgan Stanley lowered their target price on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Jefferies Financial Group lifted their price target on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Barclays assumed coverage on shares of Lincoln National in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Lincoln National has an average rating of “Hold” and a consensus target price of $32.64.

Lincoln National Price Performance

Shares of LNC stock opened at $30.46 on Wednesday. The firm’s 50 day moving average price is $30.94 and its two-hundred day moving average price is $30.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National has a 52-week low of $20.85 and a 52-week high of $36.46. The stock has a market cap of $5.18 billion, a PE ratio of 4.17, a PEG ratio of 0.31 and a beta of 1.81.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.07. The company had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period in the previous year, the company earned $2.02 EPS. As a group, analysts forecast that Lincoln National will post 5.71 EPS for the current year.

Hedge Funds Weigh In On Lincoln National

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LNC. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Lincoln National in the second quarter valued at about $1,987,000. Sanctuary Advisors LLC acquired a new position in Lincoln National during the second quarter valued at approximately $1,798,000. Cetera Investment Advisers boosted its holdings in shares of Lincoln National by 5.3% in the 2nd quarter. Cetera Investment Advisers now owns 62,805 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 3,171 shares in the last quarter. Ted Buchan & Co bought a new stake in shares of Lincoln National during the 2nd quarter worth $1,361,000. Finally, Truist Financial Corp raised its stake in Lincoln National by 3.2% during the second quarter. Truist Financial Corp now owns 178,333 shares of the financial services provider’s stock worth $5,546,000 after acquiring an additional 5,544 shares in the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

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.