Lincoln National (NYSE:LNC) Price Target Cut to $34.00 by Analysts at Piper Sandler

Lincoln National (NYSE:LNC) had its target price reduced by research analysts at Piper Sandler from $37.00 to $34.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 11.62% from the stock’s current price.

LNC has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on Lincoln National from $28.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 2nd. Morgan Stanley reduced their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays started coverage on Lincoln National in a report on Wednesday, September 4th. They issued an “equal weight” rating and a $35.00 price objective for the company. Bank of America decreased their price objective on Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Jefferies Financial Group upped their price target on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.64.

Lincoln National Trading Down 0.5 %

Shares of Lincoln National stock opened at $30.46 on Wednesday. Lincoln National has a 52 week low of $20.85 and a 52 week high of $36.46. The stock has a 50 day moving average price of $30.94 and a two-hundred day moving average price of $30.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $5.18 billion, a PE ratio of 4.17, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.07. The business had revenue of $5.15 billion during the quarter, compared to the consensus estimate 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 prior year, the company posted $2.02 earnings per share. As a group, equities analysts anticipate that Lincoln National will post 5.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lincoln National

A number of large investors have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new stake in shares of Lincoln National during the 1st quarter valued at $25,000. Whittier Trust Co. grew its stake in shares of Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 431 shares during the period. Adirondack Trust Co. purchased a new position in Lincoln National during the second quarter valued at approximately $31,000. Allspring Global Investments Holdings LLC boosted its position in shares of Lincoln National by 249.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 873 shares during the period. Finally, Westend Capital Management LLC purchased a new stake in Lincoln National in the 1st quarter worth $40,000. 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.