Lincoln National (NYSE:LNC) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Lincoln National (NYSE:LNC) had its target price decreased by Keefe, Bruyette & Woods from $51.00 to $50.00 in a research note released on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

LNC has been the subject of several other research reports. Wells Fargo & Company increased their price target on Lincoln National from $44.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. TD Cowen raised their price objective on Lincoln National from $37.00 to $42.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Morgan Stanley cut their price objective on Lincoln National from $50.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, October 5th. JPMorgan Chase & Co. lifted their price objective on Lincoln National from $40.00 to $42.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Jefferies Financial Group upped their target price on Lincoln National from $56.00 to $57.00 and gave the company a “buy” rating in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lincoln National has an average rating of “Hold” and a consensus target price of $47.67.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $40.28 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.27 and a current ratio of 0.27. Lincoln National has a 52 week low of $32.18 and a 52 week high of $47.67. The firm has a market cap of $7.71 billion, a PE ratio of 3.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The firm’s fifty day moving average is $43.18 and its 200-day moving average is $39.23.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.28. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates of $4.89 billion. Lincoln National had a return on equity of 17.35% and a net margin of 12.21%. Lincoln National’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $2.36 EPS. Sell-side analysts predict that Lincoln National will post 7.95 earnings per share for the current year.

Lincoln National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, October 9th. Lincoln National’s payout ratio is 15.60%.

Insider Buying and Selling at Lincoln National

In other news, Director Gary C. Kelly sold 15,007 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $26.50, for a total transaction of $397,685.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Sean Woodroffe sold 11,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $45.28, for a total transaction of $498,080.00. Following the transaction, the executive vice president directly owned 119,947 shares in the company, valued at $5,431,200.16. This trade represents a 8.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bain Capital Prairie LLC acquired a new position in Lincoln National during the fourth quarter worth $835,360,000. Dimensional Fund Advisors LP lifted its stake in shares of Lincoln National by 24.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider’s stock valued at $275,304,000 after buying an additional 1,522,179 shares in the last quarter. State Street Corp lifted its stake in shares of Lincoln National by 3.6% in the second quarter. State Street Corp now owns 6,106,302 shares of the financial services provider’s stock valued at $215,858,000 after buying an additional 215,007 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Lincoln National by 3.9% during the first quarter. Jennison Associates LLC now owns 3,823,152 shares of the financial services provider’s stock valued at $135,722,000 after buying an additional 141,994 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Lincoln National during the second quarter valued at about $63,112,000. 72.81% of the stock is owned by institutional investors and hedge funds.

About Lincoln National

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement solutions primarily in the United States. Its businesses serve individuals, families, employers and institutions through a portfolio of life insurance, annuities and workplace benefit products.

The company’s offerings include term and permanent life insurance, variable and fixed annuities, and retirement plan services designed to support income and financial planning needs.