Analysts Set Lincoln National Co. (NYSE:LNC) Target Price at $32.64

Shares of Lincoln National Co. (NYSE:LNC) have received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $32.64.

A number of analysts have recently issued reports on the company. Piper Sandler boosted their target price on Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Barclays began coverage on shares of Lincoln National in a research note on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price target for the company. Bank of America lowered their price target on Lincoln National from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. JPMorgan Chase & Co. upped their target price on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 28th.

Institutional Trading of Lincoln National

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Lincoln National by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock worth $697,825,000 after buying an additional 166,167 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Lincoln National during the second quarter worth $142,148,000. Principal Financial Group Inc. grew its stake in Lincoln National by 59.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after buying an additional 1,147,896 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Lincoln National by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock valued at $87,970,000 after purchasing an additional 348,601 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Lincoln National by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,249,725 shares of the financial services provider’s stock worth $69,966,000 after buying an additional 31,235 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Stock Down 1.9 %

Shares of NYSE LNC opened at $30.92 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 4.23, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81. Lincoln National has a 52 week low of $20.85 and a 52 week high of $36.46. The firm has a 50-day moving average price of $30.97 and a 200 day moving average price of $30.69.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The business had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. Equities research analysts anticipate that Lincoln National will post 5.71 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.82%. Lincoln National’s dividend payout ratio is 24.62%.

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.