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 report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the financial services provider’s stock.

LNC has been the topic of several other research reports. Morgan Stanley cut their price target on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company increased their target price on Lincoln National from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Piper Sandler lowered their price target on Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company 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 research report on Thursday, November 7th. Finally, Barclays lifted their target price on shares of Lincoln National from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lincoln National has an average rating of “Hold” and a consensus target price of $33.25.

Lincoln National Trading Up 0.3 %

NYSE LNC opened at $35.45 on Wednesday. The firm has a market capitalization of $6.04 billion, a PE ratio of 25.32, a P/E/G ratio of 0.32 and a beta of 1.79. The stock’s 50 day moving average is $33.14 and its 200 day moving average is $31.96. Lincoln National has a twelve month low of $23.40 and a twelve month high of $36.98. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.73.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The company had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same period last year, the business earned $0.23 EPS. Lincoln National’s quarterly revenue was down 2.2% compared to the same quarter last year. Research analysts forecast that Lincoln National will post 6.53 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.08%. Lincoln National’s dividend payout ratio is presently 128.57%.

Insider Buying and Selling

In other news, EVP John Christopher Kennedy sold 2,863 shares of the company’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 directly owns 99,644 shares in the company, valued at $3,587,184. This represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Lincoln National

Several hedge funds have recently bought and sold shares of the stock. 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. bought a new position in shares of Lincoln National in the second quarter worth approximately $31,000. Blue Trust Inc. boosted its position in shares of Lincoln National by 535.5% in the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 905 shares during the period. Larson Financial Group LLC increased its stake in shares of Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 530 shares in the last quarter. Finally, Eastern Bank purchased a new position in shares of Lincoln National during the 3rd quarter valued at $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.