Lincoln National (NYSE:LNC) Price Target Lowered to $34.00 at Piper Sandler

Lincoln National (NYSE:LNC) had its target price cut by Piper Sandler from $37.00 to $34.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other research analysts also recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Lincoln National from $34.00 to $38.00 and gave the stock a buy rating in a research report on Friday, June 28th. Morgan Stanley lowered their price target on Lincoln National from $30.00 to $29.00 and set an equal weight rating on the stock in a report on Monday, August 19th. Barclays initiated coverage on Lincoln National in a research report on Wednesday, September 4th. They issued an equal weight rating and a $35.00 price target on the stock. Bank of America decreased their price objective on Lincoln National from $32.00 to $31.00 and set a neutral rating for the company in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $32.64.

Lincoln National Stock Up 4.5 %

Lincoln National stock opened at $31.84 on Wednesday. The company has a market capitalization of $5.41 billion, a P/E ratio of 4.36, a PEG ratio of 0.31 and a beta of 1.81. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National has a fifty-two week low of $20.85 and a fifty-two week high of $36.46. The stock has a 50-day simple moving average of $30.88 and a 200-day simple moving average of $30.72.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The company had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same quarter in the previous year, the business earned $2.02 earnings per share. Equities research analysts expect that Lincoln National will post 5.71 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.65%. The ex-dividend date is Thursday, October 10th. Lincoln National’s payout ratio is 24.62%.

Institutional Investors Weigh In On Lincoln National

Institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Lincoln National during the second quarter worth about $1,987,000. Sanctuary Advisors LLC purchased a new stake in shares of Lincoln National during the 2nd quarter worth approximately $1,798,000. Cetera Investment Advisers grew its holdings in shares of Lincoln National by 5.3% in the 2nd quarter. Cetera Investment Advisers now owns 62,805 shares of the financial services provider’s stock worth $1,953,000 after acquiring an additional 3,171 shares during the period. Ted Buchan & Co purchased a new position in Lincoln National in the 2nd quarter valued at approximately $1,361,000. Finally, Truist Financial Corp raised its holdings in Lincoln National by 3.2% during the second quarter. Truist Financial Corp now owns 178,333 shares of the financial services provider’s stock worth $5,546,000 after purchasing an additional 5,544 shares during the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

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.