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

Lincoln National (NYSE:LNC) had its price objective reduced by Wells Fargo & Company from $29.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on LNC. Piper Sandler reduced their price target on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. StockNews.com raised shares of Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Barclays decreased their target price on shares of Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, TD Cowen upped their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.40.

Lincoln National Stock Performance

Lincoln National stock opened at $31.54 on Tuesday. Lincoln National has a fifty-two week low of $25.09 and a fifty-two week high of $36.98. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $5.37 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 0.29 and a beta of 1.78. The firm’s fifty day moving average price is $33.42 and its 200-day moving average price is $32.21.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.42. The business had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. On average, equities research analysts expect that Lincoln National will post 7.03 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 5.71%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is 128.57%.

Insider Buying and Selling

In related news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $36.00, for a total value of $103,068.00. Following the completion of the sale, the executive vice president now owns 99,644 shares of the company’s stock, valued at $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in shares of Lincoln National by 9.1% during the second quarter. American Century Companies Inc. now owns 45,844 shares of the financial services provider’s stock valued at $1,426,000 after buying an additional 3,821 shares during the period. Envestnet Asset Management Inc. boosted its position in Lincoln National by 15.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 89,928 shares of the financial services provider’s stock valued at $2,797,000 after acquiring an additional 12,339 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Lincoln National in the 2nd quarter worth approximately $142,148,000. Dimensional Fund Advisors LP lifted its stake in shares of Lincoln National by 14.1% in the 2nd 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 period. Finally, Edgestream Partners L.P. boosted its position in shares of Lincoln National by 139.2% during the second quarter. Edgestream Partners L.P. now owns 136,781 shares of the financial services provider’s stock valued at $4,254,000 after purchasing an additional 79,598 shares in the last quarter. 72.81% of the stock is currently owned by 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.