Lincoln National (NYSE:LNC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Lincoln National (NYSE:LNC - Get Free Report) had its price target increased by Wells Fargo & Company from $33.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's target price points to a potential upside of 2.70% from the stock's previous close.

A number of other analysts have also weighed in on LNC. Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Barclays raised their price target on shares of Lincoln National from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Keefe, Bruyette & Woods raised their price target on shares of Lincoln National from $39.00 to $40.00 and gave the company a "market perform" rating in a research report on Wednesday. Morgan Stanley raised their price target on shares of Lincoln National from $32.00 to $38.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Piper Sandler dropped their price target on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat.com, Lincoln National currently has a consensus rating of "Hold" and an average target price of $38.00.

Lincoln National Stock Down 0.5%

NYSE:LNC traded down $0.17 during midday trading on Thursday, reaching $34.08. 1,462,234 shares of the stock traded hands, compared to its average volume of 1,676,809. The business has a 50-day moving average of $33.60 and a two-hundred day moving average of $33.92. The stock has a market capitalization of $5.82 billion, a PE ratio of 4.84, a price-to-earnings-growth ratio of 0.45 and a beta of 1.39. Lincoln National has a 12-month low of $27.58 and a 12-month high of $39.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.25 and a current ratio of 0.25.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The business had revenue of $4.69 billion during the quarter, compared to analysts' expectations of $4.71 billion. Lincoln National had a net margin of 7.00% and a return on equity of 18.71%. The business's quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. On average, equities analysts forecast that Lincoln National will post 7.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $33.10, for a total transaction of $333,482.50. Following the transaction, the executive vice president directly owned 48,743 shares in the company, valued at approximately $1,613,393.30. The trade was a 17.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sean Woodroffe sold 43,622 shares of the business's stock in a transaction dated 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. The trade was a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

Hedge Funds Weigh In On Lincoln National

A number of institutional investors and hedge funds have recently bought and sold shares of LNC. Norges Bank acquired a new position in Lincoln National during the fourth quarter worth about $76,951,000. Balyasny Asset Management L.P. boosted its position in Lincoln National by 301.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock worth $48,269,000 after acquiring an additional 1,142,759 shares during the last quarter. AQR Capital Management LLC boosted its position in Lincoln National by 84.5% during the first quarter. AQR Capital Management LLC now owns 2,041,928 shares of the financial services provider's stock worth $72,039,000 after acquiring an additional 935,225 shares during the last quarter. Millennium Management LLC raised its stake in Lincoln National by 206.6% during the first quarter. Millennium Management LLC now owns 1,176,613 shares of the financial services provider's stock worth $42,252,000 after purchasing an additional 792,907 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Lincoln National by 84.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider's stock worth $48,948,000 after purchasing an additional 708,584 shares during the period. 72.81% of the stock is currently owned by institutional investors and hedge funds.

About Lincoln National

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.