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.
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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