Wells Fargo & Company Raises Lincoln National (NYSE:LNC) Price Target to $29.00

Lincoln National (NYSE:LNC) had its price objective increased by Wells Fargo & Company from $28.00 to $29.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Several other brokerages also recently commented on LNC. Barclays boosted their target price on Lincoln National from $35.00 to $36.00 and gave the stock an equal weight rating in a report on Tuesday, October 8th. Piper Sandler reduced their price target on shares of Lincoln National from $37.00 to $34.00 and set a neutral rating on the stock in a research report on Wednesday, October 2nd. Jefferies Financial Group upped their target price on shares of Lincoln National from $34.00 to $38.00 and gave the stock a buy rating in a research report on Friday, June 28th. Bank of America decreased their price objective on Lincoln National from $32.00 to $31.00 and set a neutral rating on the stock in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. boosted their target price on Lincoln National from $28.00 to $34.00 and gave the stock an underweight rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $33.00.

Lincoln National Trading Up 3.1 %

Shares of Lincoln National stock opened at $32.43 on Thursday. Lincoln National has a 52-week low of $20.85 and a 52-week high of $36.46. The firm has a market capitalization of $5.51 billion, a PE ratio of 4.44, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. The company’s fifty day moving average price is $30.77 and its two-hundred day moving average price is $30.81.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.07. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. The firm had revenue of $5.15 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company earned $2.02 earnings per share. On average, analysts expect that Lincoln National will post 5.73 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Thursday, October 10th. Lincoln National’s payout ratio is currently 24.62%.

Institutional Investors Weigh In On Lincoln National

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

Lincoln National Company Profile

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.