Lincoln National (NYSE:LNC) PT Lowered to $34.00 at Piper Sandler

Lincoln National (NYSE:LNC) had its price objective lowered by Piper Sandler from $37.00 to $34.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the stock. Barclays assumed coverage on shares of Lincoln National in a research note on Wednesday, September 4th. They issued an equal weight rating and a $35.00 target price for the company. Bank of America lowered their price objective on Lincoln National from $32.00 to $31.00 and set a neutral rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on Lincoln National from $28.00 to $34.00 and gave the stock an underweight rating in a research note on Tuesday, July 2nd. Jefferies Financial Group lifted their price target on Lincoln National from $34.00 to $38.00 and gave the company a buy rating in a research note on Friday, June 28th. Finally, Morgan Stanley dropped their price objective on Lincoln National from $30.00 to $29.00 and set an equal weight rating on the stock in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $32.64.

Lincoln National Stock Performance

Shares of LNC stock opened at $31.84 on Wednesday. Lincoln National has a 52-week low of $20.85 and a 52-week high of $36.46. The stock’s 50-day moving average price is $30.90 and its 200 day moving average price is $30.69. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $5.41 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.77 by $0.07. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. The business had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the business earned $2.02 earnings per share. As a group, equities research analysts forecast that Lincoln National will post 5.71 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date of this dividend is Thursday, October 10th. Lincoln National’s dividend payout ratio is currently 24.62%.

Institutional Investors Weigh In On Lincoln National

Institutional investors and hedge funds have recently made changes to their positions in the business. Central Pacific Bank Trust Division purchased a new stake in shares of Lincoln National in the first quarter valued at about $25,000. Whittier Trust Co. raised its position in shares of Lincoln National by 106.7% during the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 431 shares during the last quarter. Adirondack Trust Co. purchased a new stake in Lincoln National in the 2nd quarter valued at approximately $31,000. Transcendent Capital Group LLC acquired a new stake in Lincoln National during the 4th quarter valued at $35,000. Finally, Allspring Global Investments Holdings LLC increased its position in Lincoln National by 249.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,223 shares of the financial services provider’s stock worth $39,000 after buying an additional 873 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.