Lincoln National (NYSE:LNC) Research Coverage Started at TD Cowen

TD Cowen assumed coverage on shares of Lincoln National (NYSE:LNC) in a research note published on Wednesday, MarketBeat.com reports. The firm issued a hold rating and a $34.00 price target on the financial services provider’s stock.

LNC has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on Lincoln National from $28.00 to $34.00 and gave the stock an underweight rating in a research note on Tuesday, July 2nd. Barclays raised their price objective on shares of Lincoln National from $35.00 to $36.00 and gave the stock an equal weight rating in a research report on Tuesday. Jefferies Financial Group boosted their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a buy rating in a report on Friday, June 28th. Morgan Stanley reduced their price target on shares of Lincoln National from $30.00 to $29.00 and set an equal weight rating on the stock in a research report on Monday, August 19th. Finally, Piper Sandler lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $33.00.

Lincoln National Price Performance

Shares of NYSE LNC opened at $32.44 on Wednesday. The firm has a 50-day simple moving average of $30.77 and a 200-day simple moving average of $30.81. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 3.42, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81. Lincoln National has a 52 week low of $20.85 and a 52 week high of $36.46.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the company earned $2.02 EPS. On average, equities analysts predict that Lincoln National will post 5.73 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.55%. Lincoln National’s payout ratio is currently 18.99%.

Institutional Investors Weigh In On Lincoln National

A number of institutional investors and hedge funds have recently bought and sold shares of LNC. GSA Capital Partners LLP boosted its stake in shares of Lincoln National by 1,032.2% during the fourth quarter. GSA Capital Partners LLP now owns 105,777 shares of the financial services provider’s stock worth $2,853,000 after buying an additional 96,434 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Lincoln National by 33.0% in the 1st quarter. First Eagle Investment Management LLC now owns 387,800 shares of the financial services provider’s stock valued at $12,382,000 after purchasing an additional 96,200 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Lincoln National by 0.8% in the first quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock valued at $697,825,000 after purchasing an additional 166,167 shares during the period. Ellis Investment Partners LLC purchased a new stake in shares of Lincoln National during the second quarter worth approximately $1,095,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lincoln National during the first quarter worth $505,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

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.