Lincoln National (NYSE:LNC) PT Raised to $35.00

Lincoln National (NYSE:LNC - Free Report) had its target price upped by Evercore ISI from $33.00 to $35.00 in a research report released on Thursday, Benzinga reports. The firm currently has an in-line rating on the financial services provider's stock.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company raised their price target on shares of Lincoln National from $26.00 to $28.00 and gave the stock an equal weight rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Lincoln National from $30.00 to $32.00 and gave the company a market perform rating in a research note on Wednesday. Piper Sandler boosted their target price on shares of Lincoln National from $28.00 to $32.00 and gave the company a neutral rating in a research note on Friday, April 5th. JPMorgan Chase & Co. boosted their price target on shares of Lincoln National from $26.00 to $29.00 and gave the stock an underweight rating in a research report on Tuesday, April 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of Lincoln National from $29.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $28.45.

Lincoln National Stock Down 1.0 %

NYSE LNC traded down $0.30 during trading hours on Thursday, reaching $29.01. 1,741,991 shares of the company traded hands, compared to its average volume of 1,935,828. The company has a 50 day moving average of $28.16 and a two-hundred day moving average of $26.10. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.96. Lincoln National has a 12 month low of $18.50 and a 12 month high of $32.43. The stock has a market capitalization of $4.92 billion, a PE ratio of -5.80, a PEG ratio of 0.20 and a beta of 1.81.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.13. Lincoln National had a negative net margin of 6.46% and a positive return on equity of 20.81%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $4.44 billion. As a group, equities analysts expect that Lincoln National will post 6.55 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.20%. Lincoln National's dividend payout ratio is currently -36.07%.

Insider Activity

In related news, Director Owen Ryan acquired 10,000 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $25.90 per share, with a total value of $259,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company's stock, valued at approximately $259,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. grew its position in Lincoln National by 3,930.8% during the third quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 1,022 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Lincoln National in the fourth quarter worth approximately $27,000. Quarry LP bought a new stake in Lincoln National in the fourth quarter worth approximately $27,000. Achmea Investment Management B.V. bought a new stake in Lincoln National in the first quarter worth approximately $30,000. Finally, Transcendent Capital Group LLC acquired a new position in Lincoln National during the 4th quarter valued at $35,000. 72.81% of the stock is owned by hedge funds and other institutional investors.

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.