Lincoln National (LNC) Price Target Raised to $67.00 at UBS Group

Lincoln National (NYSE:LNC) had its price objective upped by analysts at UBS Group from $62.00 to $67.00 in a research note issued on Tuesday, April 9th, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target would suggest a potential downside of 0.22% from the company’s previous close.

A number of other research firms also recently weighed in on LNC. Zacks Investment Research downgraded Lincoln National from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. ValuEngine downgraded Lincoln National from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 11th. Finally, Wells Fargo & Co assumed coverage on shares of Lincoln National in a research report on Tuesday, January 8th. They issued a “market perform” rating and a $63.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Lincoln National has a consensus rating of “Hold” and a consensus price target of $74.69.

Shares of LNC stock traded up $0.79 during trading hours on Tuesday, reaching $67.15. The company had a trading volume of 1,363,883 shares, compared to its average volume of 1,735,673. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.41. The company has a market cap of $13.73 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 0.80 and a beta of 1.95. Lincoln National has a 1-year low of $48.07 and a 1-year high of $71.27.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $2.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.08 by $0.06. The company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.25 billion. Lincoln National had a return on equity of 12.41% and a net margin of 9.92%. The firm’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.97 EPS. Research analysts anticipate that Lincoln National will post 9.23 earnings per share for the current fiscal year.

In related news, Director Gary C. Kelly sold 17,040 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $66.63, for a total value of $1,135,375.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jamie Ohl sold 7,263 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $61.70, for a total transaction of $448,127.10. Following the completion of the sale, the executive vice president now owns 23,159 shares of the company’s stock, valued at approximately $1,428,910.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,303 shares of company stock valued at $2,188,402. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in LNC. JPMorgan Chase & Co. increased its holdings in Lincoln National by 59.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock worth $806,475,000 after purchasing an additional 4,457,743 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Lincoln National by 5,290.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,956,873 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 3,883,468 shares in the last quarter. Norges Bank bought a new position in Lincoln National during the 4th quarter worth about $197,189,000. Millennium Management LLC increased its holdings in Lincoln National by 148.9% during the 4th quarter. Millennium Management LLC now owns 1,180,277 shares of the financial services provider’s stock worth $60,560,000 after purchasing an additional 706,124 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Lincoln National by 109.4% during the 4th quarter. Prudential Financial Inc. now owns 1,328,483 shares of the financial services provider’s stock worth $68,165,000 after purchasing an additional 694,063 shares in the last quarter. Hedge funds and other institutional investors own 84.35% 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 through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.

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Analyst Recommendations for Lincoln National (NYSE:LNC)

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