TD Cowen Issues Positive Forecast for Lincoln National (NYSE:LNC) Stock Price

Lincoln National (NYSE:LNC) had its target price hoisted by TD Cowen from $34.00 to $37.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on LNC. Wells Fargo & Company upped their price objective on shares of Lincoln National from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Piper Sandler decreased their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Barclays lifted their price objective on Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Morgan Stanley reduced their price objective on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.25.

Lincoln National Price Performance

Shares of NYSE LNC opened at $35.45 on Wednesday. The business’s 50 day moving average is $33.14 and its 200-day moving average is $31.96. The firm has a market cap of $6.04 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.79. Lincoln National has a 1-year low of $23.40 and a 1-year high of $36.98. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 EPS for the quarter, beating the consensus estimate 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 net margin of 2.51% and a return on equity of 18.15%. Lincoln National’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. Equities research analysts predict that Lincoln National will post 6.53 earnings per share for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders 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 5.08%. The ex-dividend date is Friday, January 10th. Lincoln National’s dividend payout ratio (DPR) is presently 128.57%.

Insider Transactions at Lincoln National

In other news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the transaction, the executive vice president now directly owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lincoln National

A number of hedge funds have recently modified their holdings of the company. OLD National Bancorp IN boosted its holdings in shares of Lincoln National by 4.0% during the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 325 shares during the period. Brookstone Capital Management lifted its holdings in Lincoln National by 6.2% in the 3rd quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider’s stock worth $215,000 after buying an additional 397 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Lincoln National by 13.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider’s stock worth $110,000 after buying an additional 411 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Lincoln National by 1.6% during the second quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock valued at $819,000 after buying an additional 420 shares during the period. Finally, Gateway Investment Advisers LLC raised its holdings in shares of Lincoln National by 4.4% during the second quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock valued at $312,000 after acquiring an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

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.