TD Cowen Increases Lincoln National (NYSE:LNC) Price Target to $37.00

Lincoln National (NYSE:LNC) had its price target upped by stock analysts at TD Cowen from $34.00 to $37.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price objective points to a potential upside of 4.37% from the stock’s current price.

A number of other research analysts also recently weighed in on LNC. Barclays increased their price target on Lincoln National from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 8th. Piper Sandler reduced 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. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Morgan Stanley lowered their target price on 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, Wells Fargo & Company upped their price target on shares of Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. One 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, Lincoln National has a consensus rating of “Hold” and a consensus price target of $33.25.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $35.45 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s 50-day simple moving average is $33.25 and its 200-day simple moving average is $31.98. The firm has a market cap of $6.04 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. Lincoln National has a twelve month low of $23.40 and a twelve month high of $36.98.

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

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the sale, the executive vice president now owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. This represents a 2.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lincoln National

Several hedge funds and other institutional investors have recently modified their holdings of LNC. State Street Corp lifted its holdings in shares of Lincoln National by 1.3% in the third quarter. State Street Corp now owns 6,227,993 shares of the financial services provider’s stock worth $196,244,000 after acquiring an additional 79,955 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Lincoln National by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,763,703 shares of the financial services provider’s stock valued at $150,104,000 after buying an additional 193,025 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lincoln National by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,373,487 shares of the financial services provider’s stock valued at $106,322,000 after acquiring an additional 152,622 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Lincoln National by 7.2% during the third quarter. Principal Financial Group Inc. now owns 3,309,453 shares of the financial services provider’s stock worth $104,281,000 after buying an additional 223,129 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Lincoln National by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock worth $87,970,000 after acquiring an additional 348,601 shares during the period. 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.