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

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

Several other analysts also recently issued reports on the company. Piper Sandler decreased their price target on 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 Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. TD Cowen boosted their price objective 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. Finally, 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. One equities 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, Lincoln National presently has an average 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 market capitalization of $5.35 billion, a P/E ratio of 22.43, a PEG ratio of 0.29 and a beta of 1.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27. The company’s 50 day simple moving average is $33.59 and its 200 day simple moving average is $32.22. Lincoln National has a 12 month low of $25.09 and a 12 month high of $36.98.

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

Lincoln National Announces Dividend

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

Insider Activity at Lincoln National

In related 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 transaction of $103,068.00. Following the completion of the transaction, the executive vice president now owns 99,644 shares in the company, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in shares of Lincoln National by 7.2% during the 3rd 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. The Manufacturers Life Insurance Company lifted its position in shares of 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 valued at $1,252,000 after acquiring an additional 1,121 shares during the period. Mackenzie Financial Corp acquired a new stake in Lincoln National during the second quarter worth about $1,548,000. Quantbot Technologies LP increased its stake in Lincoln National by 46.4% in the second 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 increased its stake in shares of Lincoln National by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 374,076 shares of the financial services provider’s stock valued at $11,634,000 after purchasing an additional 26,322 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

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.