Lincoln National (NYSE:LNC) Price Target Cut to $28.00 by Analysts at Wells Fargo & Company

Lincoln National (NYSE:LNC) had its target price cut by equities researchers at Wells Fargo & Company from $29.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 10.51% from the company’s current price.

Several other equities analysts have also weighed in on the company. Barclays cut their target price on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Piper Sandler cut their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Finally, TD Cowen boosted their price target on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $33.40.

Lincoln National Stock Up 1.7 %

Shares of NYSE:LNC traded up $0.53 during midday trading on Tuesday, hitting $31.29. 142,303 shares of the stock were exchanged, compared to its average volume of 1,333,135. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National has a 52-week low of $25.09 and a 52-week high of $36.98. The business’s fifty day simple moving average is $33.42 and its two-hundred day simple moving average is $32.21. The company has a market capitalization of $5.33 billion, a PE ratio of 22.35, a P/E/G ratio of 0.29 and a beta of 1.78.

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 business had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same period last year, the company earned $0.23 earnings per share. Lincoln National’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts predict that Lincoln National will post 7.03 earnings per share for the current fiscal year.

Insider Transactions at Lincoln National

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

Hedge Funds Weigh In On Lincoln National

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in Lincoln National by 535.5% in the 3rd quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 905 shares during the last quarter. Larson Financial Group LLC increased its stake in Lincoln National by 95.3% during the 3rd quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 530 shares in the last quarter. Eastern Bank bought a new stake in Lincoln National during the 3rd quarter valued at about $40,000. Meeder Asset Management Inc. bought a new stake in shares of Lincoln National in the third quarter worth approximately $48,000. Finally, Venturi Wealth Management LLC grew its stake in shares of Lincoln National by 459.9% in the third quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 1,711 shares during the period. 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.