Morgan Stanley Cuts Lincoln National (NYSE:LNC) Price Target to $46.00

Lincoln National (NYSE:LNC) had its price target lowered by Morgan Stanley from $50.00 to $46.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

LNC has been the topic of several other reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Lincoln National in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price target on Lincoln National from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. TD Cowen reiterated a “hold” rating on shares of Lincoln National in a research report on Wednesday, January 28th. Piper Sandler boosted their target price on shares of Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Finally, Zacks Research lowered shares of Lincoln National from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 4th. Five analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.25.

Lincoln National Price Performance

Shares of LNC stock opened at $35.08 on Tuesday. The firm’s 50-day moving average is $40.72 and its 200-day moving average is $41.21. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 6.61, a PEG ratio of 1.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National has a 52-week low of $27.58 and a 52-week high of $46.82.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.35. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the firm posted $1.91 earnings per share. The business’s revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that Lincoln National will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, April 10th. This represents a $1.80 annualized dividend and a yield of 5.1%. Lincoln National’s payout ratio is presently 33.90%.

Insider Activity at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 3,519 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $44.15, for a total value of $155,363.85. Following the sale, the executive vice president owned 118,985 shares in the company, valued at $5,253,187.75. This trade represents a 2.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder National Life Insuranc Lincoln purchased 2,254,486 shares of the stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $11.09 per share, with a total value of $25,002,249.74. Following the completion of the acquisition, the insider directly owned 9,784,322 shares of the company’s stock, valued at approximately $108,508,130.98. This represents a 29.94% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 16,569 shares of company stock valued at $627,484. Company insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

Hedge funds have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. acquired a new stake in Lincoln National in the second quarter valued at $28,000. JPL Wealth Management LLC bought a new stake in shares of Lincoln National in the 3rd quarter valued at about $29,000. V Square Quantitative Management LLC bought a new position in shares of Lincoln National during the fourth quarter worth about $31,000. Salomon & Ludwin LLC acquired a new position in shares of Lincoln National in the third quarter worth approximately $32,000. Finally, Transamerica Financial Advisors LLC bought a new stake in Lincoln National in the fourth quarter valued at approximately $32,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.