Lincoln National (NYSE:LNC – Get Free Report) had its price target reduced by equities researchers at Mizuho from $53.00 to $49.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price objective would suggest a potential upside of 18.60% from the company’s previous close.
LNC has been the topic of a number of other research reports. Morgan Stanley lowered their price target on Lincoln National from $50.00 to $47.00 and set an “overweight” rating on the stock in a report on Monday. UBS Group raised their price objective on Lincoln National from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday. Jefferies Financial Group lifted their target price on Lincoln National from $56.00 to $57.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings upgraded Lincoln National from a “hold (c)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Finally, Bank of America reissued a “neutral” rating and issued a $47.00 price target on shares of Lincoln National in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lincoln National presently has an average rating of “Hold” and a consensus price target of $47.62.
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Lincoln National Trading Down 1.8%
Lincoln National (NYSE:LNC – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The firm had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company posted $2.36 EPS. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts predict that Lincoln National will post 7.99 EPS for the current year.
Insider Transactions at Lincoln National
In related news, Director Gary C. Kelly sold 15,007 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total value of $397,685.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sean Woodroffe sold 11,000 shares of Lincoln National stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $45.28, for a total transaction of $498,080.00. Following the completion of the sale, the executive vice president owned 119,947 shares of the company’s stock, valued at $5,431,200.16. This trade represents a 8.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.03% of the stock is owned by company insiders.
Institutional Investors Weigh In On Lincoln National
Institutional investors and hedge funds have recently modified their holdings of the business. Bain Capital Prairie LLC acquired a new position in Lincoln National during the fourth quarter worth $835,360,000. Dimensional Fund Advisors LP boosted its stake in shares of Lincoln National by 24.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider’s stock worth $275,304,000 after acquiring an additional 1,522,179 shares in the last quarter. State Street Corp increased its holdings in shares of Lincoln National by 3.6% during the 2nd quarter. State Street Corp now owns 6,106,302 shares of the financial services provider’s stock valued at $215,858,000 after acquiring an additional 215,007 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Lincoln National by 3.9% in the 1st quarter. Jennison Associates LLC now owns 3,823,152 shares of the financial services provider’s stock valued at $135,722,000 after acquiring an additional 141,994 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Lincoln National in the 2nd quarter valued at approximately $63,112,000. Institutional investors and hedge funds own 72.81% of the company’s stock.
Lincoln National Company Profile
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.
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