Lincoln National (NYSE:LNC) Price Target Raised to $38.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has raised its price target for Lincoln National from $37.00 to $38.00, while maintaining an "equal weight" rating on the stock.
• The company’s stock is currently trading at $40.26, reflecting a 0.5% increase during the latest trading session.
• Institutional investors hold a significant 72.81% of Lincoln National's stock, with notable recent acquisitions from various management groups.

Lincoln National (NYSE:LNC - Get Free Report) had its price objective hoisted by research analysts at Wells Fargo & Company from $37.00 to $38.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price objective would indicate a potential downside of 5.61% from the company's previous close.

A number of other equities research analysts have also recently weighed in on the company. National Bankshares set a $53.00 price target on Lincoln National in a report on Tuesday. 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 report on Tuesday, July 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Lincoln National in a report on Saturday, September 27th. Morgan Stanley cut their price target on Lincoln National from $58.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday. Finally, Cfra Research upgraded shares of Lincoln National to a "hold" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $42.27.

Lincoln National Stock Up 0.5%

Shares of Lincoln National stock traded up $0.20 during trading on Wednesday, reaching $40.26. The company had a trading volume of 79,103 shares, compared to its average volume of 1,939,258. The company has a market cap of $7.63 billion, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 0.54 and a beta of 1.43. Lincoln National has a fifty-two week low of $27.58 and a fifty-two week high of $43.66. The firm's fifty day moving average is $40.58 and its 200-day moving average is $35.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26.

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

Insider Transactions at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the completion of the sale, the executive vice president owned 123,815 shares in the company, valued at $4,864,691.35. This represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management raised its holdings in Lincoln National by 383.2% in the 1st quarter. Hollencrest Capital Management now owns 749 shares of the financial services provider's stock worth $27,000 after acquiring an additional 594 shares during the period. Advisors Asset Management Inc. bought a new position in Lincoln National during the second quarter worth about $28,000. Ameritas Advisory Services LLC bought a new position in shares of Lincoln National in the second quarter valued at approximately $29,000. NBC Securities Inc. bought a new position in shares of Lincoln National in the first quarter valued at approximately $33,000. Finally, Brooklyn Investment Group increased its holdings in shares of Lincoln National by 82.9% in the first quarter. Brooklyn Investment Group now owns 1,156 shares of the financial services provider's stock valued at $42,000 after purchasing an additional 524 shares in the last quarter. Institutional investors own 72.81% of the company's stock.

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.

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