Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Lincoln National (NYSE:LNC) Stock

Key Points

• Keefe, Bruyette & Woods raised their target price for Lincoln National (NYSE:LNC) stock from $40.00 to $42.00, indicating a potential upside of 11.25% from the stock's previous close.
• The company reported $2.36 earnings per share, surpassing the consensus estimate of $1.91 in its latest quarterly earnings, despite revenue falling short of analyst expectations.
• Recent insider transactions revealed that top executives sold shares of Lincoln National, representing significant decreases in their holdings, with one executive's position dropping by 22.06%.

Lincoln National (NYSE:LNC - Get Free Report) had its target price raised by research analysts at Keefe, Bruyette & Woods from $40.00 to $42.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 11.25% from the stock's previous close.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley increased their price target on Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Piper Sandler lowered their price target on Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Barclays increased their price target on shares of Lincoln National from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Wells Fargo & Company raised their price target on shares of Lincoln National from $33.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their price target on Lincoln National from $38.00 to $41.00 and gave the company an "underweight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat, Lincoln National has a consensus rating of "Hold" and an average target price of $39.00.

Lincoln National Price Performance

Shares of NYSE LNC traded up $0.88 during midday trading on Monday, reaching $37.75. 906,384 shares of the stock traded hands, compared to its average volume of 1,964,082. The company's 50 day moving average is $33.97 and its 200 day moving average is $34.30. Lincoln National has a one year low of $27.58 and a one year high of $39.85. The stock has a market capitalization of $6.44 billion, a PE ratio of 6.59, a P/E/G ratio of 0.52 and a beta of 1.42. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.45. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%. The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the firm posted $1.87 EPS. On average, equities research analysts anticipate that Lincoln National will post 7.69 earnings per share for the current year.

Insider Transactions at Lincoln National

In related news, EVP Sean Woodroffe sold 43,622 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $32.78, for a total transaction of $1,429,929.16. Following the transaction, the executive vice president owned 154,102 shares in the company, valued at $5,051,463.56. This trade represents a 22.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian Kroll sold 10,075 shares of Lincoln National stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $33.10, for a total value of $333,482.50. Following the completion of the transaction, the executive vice president owned 48,743 shares in the company, valued at $1,613,393.30. This trade represents a 17.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Strs Ohio lifted its position in shares of Lincoln National by 13.1% in the second quarter. Strs Ohio now owns 59,879 shares of the financial services provider's stock valued at $2,072,000 after acquiring an additional 6,957 shares in the last quarter. Assetmark Inc. grew its stake in shares of Lincoln National by 5.2% in the second quarter. Assetmark Inc. now owns 5,401 shares of the financial services provider's stock valued at $187,000 after buying an additional 268 shares in the last quarter. Keybank National Association OH boosted its holdings in Lincoln National by 100.8% in the second quarter. Keybank National Association OH now owns 14,344 shares of the financial services provider's stock valued at $496,000 after purchasing an additional 7,199 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Lincoln National by 3,927.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,490 shares of the financial services provider's stock worth $52,000 after buying an additional 1,453 shares during the last quarter. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Lincoln National during the 2nd quarter worth approximately $1,357,000. 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.

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