Lincoln National (NYSE:LNC) Given New $35.00 Price Target at Wells Fargo & Company

Lincoln National (NYSE:LNC) had its target price upped by Wells Fargo & Company from $33.00 to $35.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 2.70% from the stock’s current price.

Other analysts have also recently issued reports about the company. Wall Street Zen upgraded Lincoln National from a “sell” rating to a “hold” rating in a research note on Saturday, July 5th. UBS Group raised their price target on Lincoln National from $32.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, April 2nd. Piper Sandler cut their price target on Lincoln National from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Keefe, Bruyette & Woods raised their price target on Lincoln National from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Wednesday. Finally, Morgan Stanley raised their price target on Lincoln National from $32.00 to $38.00 and gave the company an “equal weight” rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.78.

Lincoln National Trading Down 0.5%

NYSE:LNC opened at $34.08 on Thursday. The firm has a market cap of $5.82 billion, a PE ratio of 4.84, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39. The stock has a fifty day moving average price of $33.62 and a 200 day moving average price of $33.93. Lincoln National has a 12-month low of $27.58 and a 12-month high of $39.85. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.81.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.71 billion. Lincoln National had a return on equity of 18.71% and a net margin of 7.00%. Lincoln National’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. Sell-side analysts anticipate that Lincoln National will post 7.69 earnings per share for the current fiscal year.

Insider Activity

In other Lincoln National news, EVP Brian Kroll sold 10,075 shares of Lincoln National stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total value of $333,482.50. Following the sale, the executive vice president owned 48,743 shares of the company’s stock, valued at approximately $1,613,393.30. The trade was a 17.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sean Woodroffe sold 43,622 shares of Lincoln National stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $32.78, for a total value of $1,429,929.16. Following the completion of the sale, the executive vice president directly owned 154,102 shares in the company, valued at $5,051,463.56. This represents a 22.06% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

A number of institutional investors have recently added to or reduced their stakes in LNC. Massachusetts Financial Services Co. MA boosted its stake in shares of Lincoln National by 2.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,854,788 shares of the financial services provider’s stock worth $174,335,000 after acquiring an additional 97,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lincoln National by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,433 shares of the financial services provider’s stock worth $110,753,000 after acquiring an additional 208,114 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Lincoln National by 6.1% during the 1st quarter. Northern Trust Corp now owns 2,566,274 shares of the financial services provider’s stock worth $92,155,000 after acquiring an additional 146,667 shares in the last quarter. Norges Bank purchased a new stake in shares of Lincoln National during the 4th quarter worth approximately $76,951,000. Finally, AQR Capital Management LLC boosted its stake in shares of Lincoln National by 84.5% during the 1st quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider’s stock worth $72,039,000 after acquiring an additional 935,225 shares in the last quarter. Hedge funds and other 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.