Bank of America Issues Pessimistic Forecast for Lincoln National (NYSE:LNC) Stock Price

Key Points

• Bank of America cut its price target on Lincoln National to $37 from $41 and maintained a "neutral" rating, implying about a 4.5% upside from the prior close.
• Analysts have broadly trimmed targets recently, leaving a consensus "Hold" rating with an average price target of $43.79 (6 Buys, 8 Holds, 2 Sells).
• Lincoln beat quarterly EPS estimates ($2.21 vs. $1.86) and posted $4.89B in revenue despite a 2.8% YoY decline; the stock trades near $35.41 with a PE of 6.67 and a market cap of about $6.7B.

Lincoln National (NYSE:LNC - Get Free Report) had its price target decreased by equities researchers at Bank of America from $41.00 to $37.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the financial services provider's stock. Bank of America's price objective points to a potential upside of 4.51% from the stock's previous close.

Other analysts have also issued research reports about the stock. Barclays decreased their target price on shares of Lincoln National from $44.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Mizuho decreased their target price on shares of Lincoln National from $54.00 to $48.00 and set an "outperform" rating on the stock in a research report on Monday. TD Cowen decreased their target price on shares of Lincoln National from $43.00 to $38.00 and set a "hold" rating on the stock in a research report on Monday, March 9th. Wells Fargo & Company decreased their target price on shares of Lincoln National from $48.00 to $43.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Jefferies Financial Group raised their target price on shares of Lincoln National from $52.00 to $59.00 and gave the stock a "buy" rating in a research report on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $43.79.

Lincoln National Trading Up 1.4%

NYSE LNC traded up $0.50 during mid-day trading on Tuesday, reaching $35.41. 638,896 shares of the stock were exchanged, compared to its average volume of 2,254,333. Lincoln National has a 1-year low of $28.98 and a 1-year high of $46.82. The business's fifty day simple moving average is $36.21 and its 200 day simple moving average is $39.86. The stock has a market capitalization of $6.73 billion, a PE ratio of 6.67, a PEG ratio of 1.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.27 and a current ratio of 0.27.

Lincoln National (NYSE:LNC - Get Free Report) last announced its earnings results on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.35. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the business earned $1.91 earnings per share. Lincoln National's revenue was down 2.8% compared to the same quarter last year. On average, research analysts anticipate that Lincoln National will post 7.69 earnings per share for the current fiscal year.

Insider Activity at Lincoln National

In related news, EVP Sean Woodroffe sold 10,000 shares of Lincoln National stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $34.46, for a total value of $344,600.00. Following the transaction, the executive vice president owned 206,159 shares in the company, valued at approximately $7,104,239.14. This trade represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder National Life Insuranc Lincoln bought 2,254,486 shares of Lincoln National stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $11.09 per share, for a total transaction of $25,002,249.74. Following the acquisition, the insider directly owned 9,784,322 shares of the company's stock, valued at $108,508,130.98. The trade was a 29.94% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 21,050 shares of company stock worth $734,041. 0.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Lincoln National by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,903,720 shares of the financial services provider's stock valued at $802,717,000 after acquiring an additional 1,183,934 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Lincoln National by 145.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 116,116 shares of the financial services provider's stock valued at $4,683,000 after acquiring an additional 68,827 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Lincoln National by 30.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 203,931 shares of the financial services provider's stock valued at $8,180,000 after acquiring an additional 47,419 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Lincoln National by 21.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,952,166 shares of the financial services provider's stock valued at $240,051,000 after acquiring an additional 1,035,505 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in shares of Lincoln National by 101.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 285,105 shares of the financial services provider's stock valued at $11,498,000 after acquiring an additional 143,862 shares during the period. Institutional investors and hedge funds own 72.81% of the company's stock.

Lincoln National Company Profile

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.

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