Lincoln National (NYSE:LNC) Now Covered by TD Cowen

TD Cowen began coverage on shares of Lincoln National (NYSE:LNC) in a note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “hold” rating and a $34.00 price target on the financial services provider’s stock. TD Cowen’s target price would indicate a potential upside of 8.14% from the stock’s previous close.

A number of other research firms have also weighed in on LNC. Jefferies Financial Group raised their target price on shares of Lincoln National from $34.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Morgan Stanley lowered their price objective on Lincoln National from $30.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their price target on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. Piper Sandler dropped their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Bank of America reduced their target price on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lincoln National currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Lincoln National Price Performance

NYSE:LNC opened at $31.44 on Wednesday. The firm has a market cap of $5.35 billion, a P/E ratio of 3.32, a price-to-earnings-growth ratio of 0.31 and a beta of 1.81. The stock has a 50 day moving average of $30.72 and a two-hundred day moving average of $30.79. Lincoln National has a 12 month low of $20.85 and a 12 month high of $36.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.82.

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

Hedge Funds Weigh In On Lincoln National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA acquired a new stake in shares of Lincoln National in the second quarter valued at $142,148,000. Principal Financial Group Inc. raised its position in Lincoln National by 59.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after purchasing an additional 1,147,896 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Lincoln National by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 21,688,670 shares of the financial services provider’s stock valued at $584,943,000 after buying an additional 1,094,789 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Lincoln National during the first quarter worth about $28,649,000. Finally, AQR Capital Management LLC increased its stake in shares of Lincoln National by 49.5% during the second quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock worth $66,892,000 after buying an additional 711,951 shares during the period. Hedge funds and other 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.