Piper Sandler Lowers Lincoln National (NYSE:LNC) Price Target to $30.00

Lincoln National (NYSE:LNC) had its price objective lowered by Piper Sandler from $32.00 to $30.00 in a research note released on Monday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other equities research analysts have also recently weighed in on the stock. UBS Group increased their price objective on shares of Lincoln National from $25.00 to $28.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Evercore ISI raised their price target on shares of Lincoln National from $33.00 to $35.00 and gave the company an in-line rating in a research report on Thursday, April 11th. Jefferies Financial Group raised shares of Lincoln National from an underperform rating to a hold rating in a report on Monday, February 12th. Wells Fargo & Company boosted their price objective on Lincoln National from $26.00 to $28.00 and gave the stock an equal weight rating in a research report on Thursday, April 11th. Finally, StockNews.com raised Lincoln National from a sell rating to a hold rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $28.27.

Lincoln National Stock Performance

Shares of Lincoln National stock traded up $0.47 during trading on Monday, reaching $29.44. The company’s stock had a trading volume of 60,637 shares, compared to its average volume of 1,888,620. The business’s 50-day moving average price is $28.50 and its 200-day moving average price is $26.63. Lincoln National has a 52 week low of $18.50 and a 52 week high of $32.43. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. The firm has a market cap of $5.01 billion, a PE ratio of 3.96, a P/E/G ratio of 0.18 and a beta of 1.80.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.45 EPS for the quarter, beating the consensus estimate of $1.32 by $0.13. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $4.44 billion. Equities analysts forecast that Lincoln National will post 6.25 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were issued a $0.45 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.80 dividend on an annualized basis and a yield of 6.11%. Lincoln National’s dividend payout ratio (DPR) is 24.62%.

Insider Activity at Lincoln National

In other Lincoln National news, Director Owen Ryan acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average cost of $25.90 per share, with a total value of $259,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $259,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of Lincoln National

Several large investors have recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in Lincoln National in the 1st quarter worth $25,000. Financial Gravity Asset Management Inc. raised its holdings in Lincoln National by 3,930.8% during the third quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,022 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of Lincoln National in the fourth quarter worth about $27,000. Transcendent Capital Group LLC bought a new position in Lincoln National in the 4th quarter worth approximately $35,000. Finally, CVA Family Office LLC purchased a new stake in Lincoln National in the 4th quarter worth $37,000. 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.