JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Lincoln National (NYSE:LNC) Stock

Lincoln National (NYSE:LNC) had its price objective upped by analysts at JPMorgan Chase & Co. from $40.00 to $42.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 1.07% from the stock’s previous close.

A number of other research firms have also issued reports on LNC. Barclays raised Lincoln National from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $42.00 to $45.00 in a research note on Monday, July 6th. Jefferies Financial Group boosted their target price on shares of Lincoln National from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, July 10th. National Bank Financial set a $51.00 target price on shares of Lincoln National in a report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price target on shares of Lincoln National from $44.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Bank of America lowered their price target on shares of Lincoln National from $41.00 to $37.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $44.93.

Lincoln National Price Performance

Shares of NYSE:LNC traded down $0.06 during midday trading on Tuesday, hitting $41.55. 290,674 shares of the stock were exchanged, compared to its average volume of 2,021,591. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.65. The stock has a market cap of $7.95 billion, a P/E ratio of 4.82, a PEG ratio of 2.99 and a beta of 1.17. The company has a 50 day moving average price of $36.87 and a 200-day moving average price of $37.55. Lincoln National has a twelve month low of $32.18 and a twelve month high of $46.82.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The company had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts forecast that Lincoln National will post 7.73 earnings per share for the current year.

Insider Buying and Selling at Lincoln National

In other news, EVP Craigt T. Beazer sold 30,000 shares of Lincoln National stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $34.45, for a total value of $1,033,500.00. Following the transaction, the executive vice president directly owned 103,906 shares of the company’s stock, valued at $3,579,561.70. The trade was a 22.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lincoln National

A number of hedge funds have recently made changes to their positions in the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Lincoln National in the 4th quarter valued at approximately $4,742,000. Wealthstar Advisors LLC acquired a new stake in shares of Lincoln National during the 1st quarter valued at approximately $1,183,000. Oxbow Advisors LLC lifted its stake in Lincoln National by 22.1% during the fourth quarter. Oxbow Advisors LLC now owns 231,208 shares of the financial services provider’s stock worth $10,296,000 after purchasing an additional 41,817 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Lincoln National by 10.9% during the fourth quarter. Hsbc Holdings PLC now owns 1,360,587 shares of the financial services provider’s stock worth $60,495,000 after purchasing an additional 133,388 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Lincoln National by 38.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 121,806 shares of the financial services provider’s stock worth $5,424,000 after purchasing an additional 33,808 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

About Lincoln National

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.