JPMorgan Chase & Co. Issues Pessimistic Forecast for Lincoln National (NYSE:LNC) Stock Price

Key Points

• JPMorgan lowered Lincoln National’s price target from $49 to $47 and maintained an “underweight” rating, implying approximately 18.5% upside from the stock’s $39.66 price.
• Analyst sentiment remains mixed: Lincoln National has an average “Hold” rating and a consensus target price of $48.67, despite seven Buy ratings and only one Sell rating.
• The company beat quarterly earnings expectations, reporting $2.24 in EPS versus the $1.96 consensus, while revenue rose 12.3% year over year to $4.93 billion.

Lincoln National (NYSE:LNC - Get Free Report) had its price target lowered by equities research analysts at JPMorgan Chase & Co. from $49.00 to $47.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "underweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 18.49% from the stock's current price.

LNC has been the subject of several other research reports. Bank of America reissued a "neutral" rating and set a $47.00 price objective on shares of Lincoln National in a research note on Thursday, July 30th. Weiss Ratings upgraded Lincoln National from a "hold (c)" rating to a "buy (b)" rating in a research note on Monday, August 3rd. Jefferies Financial Group raised their price target on Lincoln National from $56.00 to $57.00 and gave the company a "buy" rating in a report on Friday, July 10th. Barclays lifted their price target on Lincoln National from $45.00 to $48.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Finally, Mizuho cut their price objective on Lincoln National from $53.00 to $49.00 and set an "outperform" rating for the company in a report on Wednesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating, five have given 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 $48.67.

Lincoln National Price Performance

LNC stock traded down $0.56 during mid-day trading on Thursday, reaching $39.66. 380,338 shares of the company traded hands, compared to its average volume of 2,028,789. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market capitalization of $7.59 billion, a P/E ratio of 3.44, a P/E/G ratio of 1.37 and a beta of 1.16. Lincoln National has a 52-week low of $32.18 and a 52-week high of $47.67. The company has a fifty day moving average price of $42.81 and a 200-day moving average price of $39.33.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.28. The firm had revenue of $4.93 billion for the quarter, compared to the consensus estimate of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The company's revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.36 earnings per share. As a group, analysts anticipate that Lincoln National will post 7.93 earnings per share for the current year.

Insider Buying and Selling at Lincoln National

In other Lincoln National news, Director Gary Kelly sold 15,007 shares of the company's 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sean Woodroffe sold 11,000 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $45.28, for a total value 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.03% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LNC. Trust Co. of Vermont purchased a new stake in Lincoln National in the second quarter worth about $28,000. NBT Bank N A NY increased its stake in shares of Lincoln National by 2,051.1% during the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 923 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in shares of Lincoln National by 6,269.6% during the first quarter. SJS Investment Consulting Inc. now owns 1,465 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 1,442 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Lincoln National by 935.2% during the second quarter. CoreCap Advisors LLC now owns 1,853 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 1,674 shares during the last quarter. Finally, Eastern Bank lifted its holdings in shares of Lincoln National by 45.7% during the second quarter. Eastern Bank now owns 1,865 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 585 shares during the last quarter. Institutional investors own 72.81% of the company's stock.

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.

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