Morgan Stanley Lowers Lincoln National (NYSE:LNC) Price Target to $40.00

Key Points

• Morgan Stanley cut its price target on Lincoln National to $40 from $43, while keeping an overweight rating. The new target still implies about 12% upside from the current share price.
• Recent analyst opinions are mixed: TD Cowen lowered its target to $38 with a hold rating, while Wells Fargo raised its target to $44 and kept an overweight rating. Overall, the stock carries a Hold consensus rating with an average price target of $43.57.
• Lincoln National reported strong quarterly earnings, with EPS of $1.66 beating estimates, and revenue up 13.1% year over year. However, revenue came in slightly below expectations, and the shares traded around $35.71 during the session.

Lincoln National (NYSE:LNC - Get Free Report) had its price objective cut by Morgan Stanley from $43.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. Morgan Stanley's price target would suggest a potential upside of 12.03% from the company's current price.

Other equities research analysts also recently issued reports about the company. TD Cowen cut their price target on Lincoln National from $43.00 to $38.00 and set a "hold" rating for the company in a research note on Monday, March 9th. Wells Fargo & Company lifted their price target on shares of Lincoln National from $43.00 to $44.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. UBS Group reaffirmed a "neutral" rating and issued a $39.00 price objective on shares of Lincoln National in a research report on Thursday, May 14th. JPMorgan Chase & Co. decreased their price target on shares of Lincoln National from $42.00 to $40.00 and set an "underweight" rating for the company in a research note on Thursday, May 7th. Finally, National Bank Financial set a $48.00 price objective on shares of Lincoln National in a research note on Monday, April 13th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $43.57.

Lincoln National Stock Performance

Shares of NYSE:LNC traded up $0.23 during midday trading on Thursday, reaching $35.71. 130,509 shares of the company traded hands, compared to its average volume of 2,127,305. The firm's fifty day moving average price is $35.27 and its two-hundred day moving average price is $39.20. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 4.14, a price-to-earnings-growth ratio of 2.20 and a beta of 1.20. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.65. Lincoln National has a 12 month low of $31.61 and a 12 month high of $46.82.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. The company had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.93 billion. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The firm's revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. On average, equities analysts expect that Lincoln National will post 7.73 earnings per share for the current year.

Insider Transactions at Lincoln National

In other news, EVP Sean Woodroffe sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $34.46, for a total transaction of $344,600.00. Following the sale, the executive vice president owned 206,159 shares in the company, valued at $7,104,239.14. This represents a 4.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder National Life Insuranc Lincoln purchased 2,254,486 shares of Lincoln National stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $11.09 per share, with a total value 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. This trade represents a 29.94% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.03% of the company's stock.

Institutional Inflows and Outflows

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