Lincoln National (NYSE:LNC) Price Target Cut to $53.00 by Analysts at Wells Fargo & Company

Lincoln National (NYSE:LNC) had its target price decreased by stock analysts at Wells Fargo & Company from $54.00 to $53.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 24.59% from the company’s previous close.

Several other equities research analysts also recently weighed in on LNC. Keefe, Bruyette & Woods lowered their target price on Lincoln National from $51.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. Bank of America reissued a “neutral” rating and set a $47.00 price target on shares of Lincoln National in a research report on Thursday, July 30th. TD Cowen boosted their price target on Lincoln National from $37.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. UBS Group upped their price target on Lincoln National from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. Finally, Morgan Stanley lowered their price objective on shares of Lincoln National from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $48.58.

Lincoln National Stock Down 0.5%

Shares of Lincoln National stock opened at $42.54 on Thursday. Lincoln National has a twelve month low of $32.18 and a twelve month high of $47.67. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 2.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.16. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average price of $41.51 and a 200 day moving average price of $39.05.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, November 5th. The financial services provider reported $1.72 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.24). The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $4.97 billion. Lincoln National had a net margin of 16.36% and a return on equity of 17.02%. During the same period last year, the business earned $2.04 earnings per share. Equities research analysts forecast that Lincoln National will post 7.89 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Sean Woodroffe sold 17,500 shares of Lincoln National stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $40.24, for a total transaction of $704,200.00. Following the sale, the executive vice president directly owned 103,296 shares of the company’s stock, valued at approximately $4,156,631.04. The trade was a 14.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Reid sold 52,434 shares of Lincoln National stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $39.26, for a total value of $2,058,558.84. Following the sale, the executive vice president directly owned 129,533 shares in the company, valued at approximately $5,085,465.58. The trade was a 28.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 98,914 shares of company stock worth $4,024,989 over the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

Hedge funds have recently bought and sold shares of the business. Arizona State Retirement System increased its holdings in Lincoln National by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 47,206 shares of the financial services provider’s stock worth $1,669,000 after purchasing an additional 252 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Lincoln National by 4.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,326 shares of the financial services provider’s stock valued at $255,000 after buying an additional 270 shares during the last quarter. Sage Rhino Capital LLC grew its position in shares of Lincoln National by 3.9% during the third quarter. Sage Rhino Capital LLC now owns 8,510 shares of the financial services provider’s stock worth $343,000 after buying an additional 316 shares in the last quarter. IFP Advisors Inc grew its position in shares of Lincoln National by 7.0% during the third quarter. IFP Advisors Inc now owns 5,362 shares of the financial services provider’s stock worth $216,000 after buying an additional 349 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its position in shares of Lincoln National by 1.5% during the second quarter. Wealthcare Advisory Partners LLC now owns 30,999 shares of the financial services provider’s stock worth $1,096,000 after buying an additional 454 shares in the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Company Profile

Lincoln National Corporation, operating as Lincoln Financial Group, is a financial services and insurance company whose businesses focus on protecting income and helping individuals and employers plan for financial needs. Its offerings include life insurance, annuities, workplace benefits and retirement plan services. The company serves individuals, employers and retirement plan participants primarily in the United States. Its workplace protection products include benefits such as disability and life insurance, while its retirement services support employers and employees with workplace savings plans.