Lincoln National (NYSE:LNC) Given New $69.00 Price Target at Barclays

Lincoln National (NYSE:LNC) had its price target lifted by Barclays from $64.00 to $69.00 in a report published on Monday morning, The Fly reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on LNC. Royal Bank of Canada boosted their price objective on shares of Lincoln National from $69.00 to $70.00 and gave the company a sector perform rating in a research report on Friday, August 6th. Zacks Investment Research upgraded shares of Lincoln National from a sell rating to a hold rating and set a $65.00 price target on the stock in a research note on Friday, July 9th. lifted their price target on shares of Lincoln National from $67.00 to $68.00 and gave the company a neutral rating in a research note on Monday, June 21st. Morgan Stanley lifted their price target on shares of Lincoln National from $73.00 to $75.00 and gave the company an overweight rating in a research note on Thursday, August 5th. Finally, Piper Sandler lowered their price target on shares of Lincoln National from $70.00 to $65.00 and set a neutral rating on the stock in a research note on Thursday, July 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Lincoln National presently has a consensus rating of Hold and a consensus target price of $66.71.

Shares of NYSE LNC opened at $64.29 on Monday. The company’s fifty day moving average is $65.32 and its 200-day moving average is $64.99. The stock has a market cap of $12.08 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 0.16 and a beta of 2.24. Lincoln National has a twelve month low of $29.42 and a twelve month high of $71.68. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.29.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, August 4th. The financial services provider reported $3.17 EPS for the quarter, beating the consensus estimate of $2.30 by $0.87. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.79 billion. Lincoln National had a net margin of 7.43% and a return on equity of 5.47%. The firm’s revenue was up 37.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. On average, research analysts anticipate that Lincoln National will post 10.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Monday, October 11th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $1.68 dividend on an annualized basis and a yield of 2.61%. Lincoln National’s dividend payout ratio (DPR) is currently 37.75%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Factorial Partners LLC grew its stake in Lincoln National by 7,946.1% in the 1st quarter. Factorial Partners LLC now owns 1,432,210 shares of the financial services provider’s stock valued at $23,000,000 after buying an additional 1,414,410 shares during the last quarter. Veriti Management LLC acquired a new position in Lincoln National in the 2nd quarter valued at about $523,000. Naples Global Advisors LLC grew its stake in Lincoln National by 7.4% in the 2nd quarter. Naples Global Advisors LLC now owns 30,906 shares of the financial services provider’s stock valued at $1,942,000 after buying an additional 2,132 shares during the last quarter. GM Advisory Group Inc. grew its stake in Lincoln National by 13.6% in the 1st quarter. GM Advisory Group Inc. now owns 28,435 shares of the financial services provider’s stock valued at $1,771,000 after buying an additional 3,400 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Lincoln National by 0.4% in the 1st quarter. BlackRock Inc. now owns 15,128,523 shares of the financial services provider’s stock valued at $942,054,000 after buying an additional 66,604 shares during the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.

Lincoln National Company Profile

Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. The company operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.

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