Brokerages Set Lincoln National Co. (NYSE:LNC) Price Target at $29.90

Lincoln National Co. (NYSE:LNC - Get Free Report) has been assigned an average recommendation of "Hold" from the eleven research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $29.90.

LNC has been the topic of a number of analyst reports. TheStreet lowered Lincoln National from a "c" rating to a "d+" rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. boosted their price objective on shares of Lincoln National from $26.00 to $29.00 and gave the company an "underweight" rating in a research note on Tuesday, April 2nd. StockNews.com upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods raised their price target on shares of Lincoln National from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Wednesday, April 10th. Finally, Piper Sandler decreased their price target on shares of Lincoln National from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Monday, May 6th.

Lincoln National Stock Down 0.6 %

LNC stock traded down $0.19 during mid-day trading on Thursday, reaching $31.66. 1,582,029 shares of the company traded hands, compared to its average volume of 1,840,206. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. The firm's 50 day moving average price is $29.29 and its 200 day moving average price is $27.30. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 4.33, a P/E/G ratio of 0.24 and a beta of 1.80. Lincoln National has a fifty-two week low of $20.47 and a fifty-two week high of $32.43.

Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.27. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.64 billion. As a group, equities research analysts predict that Lincoln National will post 5.91 EPS for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.69%. Lincoln National's dividend payout ratio (DPR) is presently 24.62%.

Hedge Funds Weigh In On Lincoln National

Institutional investors and hedge funds have recently modified their holdings of the company. Algebris UK Ltd grew its position in Lincoln National by 122.5% during the first quarter. Algebris UK Ltd now owns 861,259 shares of the financial services provider's stock valued at $25,582,000 after buying an additional 474,171 shares during the period. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Lincoln National in the 1st quarter worth $615,000. Tidal Investments LLC raised its holdings in Lincoln National by 25.6% in the 1st quarter. Tidal Investments LLC now owns 30,453 shares of the financial services provider's stock worth $972,000 after purchasing an additional 6,207 shares during the period. Innealta Capital LLC purchased a new position in Lincoln National during the first quarter valued at $364,000. Finally, Interval Partners LP bought a new stake in Lincoln National during the first quarter valued at about $9,938,000. 72.81% of the stock is currently 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.