JPMorgan Chase & Co. Lowers Lincoln National (NYSE:LNC) Price Target to $40.00

Key Points

• JPMorgan cut its price target on Lincoln National to $40 (from $42) and kept an "underweight" rating; that $40 target implies roughly a 10.9% upside from the stock's current level.
• The street consensus is an average rating of "Hold" with an average price target of $43.71, while analysts are split (6 Buy, 8 Hold, 2 Sell).
• Lincoln National reported $1.66 EPS (beat by $0.03) and revenue of $4.87B (slightly below estimates), with ROE of 18.52% and revenue up 13.1% YoY; the stock traded at $36.06 with a 52-week range of $31.61–$46.82.

Lincoln National (NYSE:LNC - Get Free Report) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $42.00 to $40.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 10.93% from the company's current price.

Other equities research analysts have also issued research reports about the company. Weiss Ratings restated a "buy (b-)" rating on shares of Lincoln National in a research report on Friday, March 27th. National Bank Financial set a $48.00 price objective on Lincoln National in a research note on Monday, April 13th. Wells Fargo & Company decreased their price target on Lincoln National from $48.00 to $43.00 and set an "overweight" rating for the company in a research report on Friday, April 10th. TD Cowen decreased their price target on Lincoln National from $43.00 to $38.00 and set a "hold" rating for the company in a research report on Monday, March 9th. Finally, Morgan Stanley decreased their target price on Lincoln National from $50.00 to $46.00 and set an "overweight" rating for the company in a research report on Tuesday, March 3rd. Six analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $43.71.

Lincoln National Price Performance

LNC traded down $1.56 on Thursday, reaching $36.06. The stock had a trading volume of 3,692,358 shares, compared to its average volume of 2,142,448. Lincoln National has a fifty-two week low of $31.61 and a fifty-two week high of $46.82. The firm has a 50-day moving average of $35.28 and a 200-day moving average of $39.54. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 6.79, a price-to-earnings-growth ratio of 2.39 and a beta of 1.20.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.03. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The firm had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The business's revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Lincoln National will post 7.79 EPS for the current year.

Insider Activity at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 8,000 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $32.74, for a total transaction of $261,920.00. Following the sale, the executive vice president owned 198,159 shares in the company, valued at $6,487,725.66. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Waltman Reid sold 3,050 shares of the firm's stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $41.81, for a total value of $127,520.50. Following the sale, the executive vice president owned 118,567 shares in the company, valued at $4,957,286.27. The trade was a 2.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 21,050 shares of company stock valued at $734,041. Company insiders own 0.51% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Baird Financial Group Inc. bought a new stake in Lincoln National during the 1st quarter valued at approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Lincoln National by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider's stock valued at $2,585,000 after acquiring an additional 16,991 shares in the last quarter. Empowered Funds LLC boosted its position in Lincoln National by 316.9% during the 1st quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider's stock valued at $2,123,000 after acquiring an additional 44,936 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Lincoln National by 5.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider's stock valued at $22,383,000 after acquiring an additional 29,421 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in Lincoln National by 39.1% during the 1st quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider's stock valued at $701,000 after acquiring an additional 5,486 shares in the last quarter. Hedge funds and other institutional investors 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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