UBS Group Cuts Lincoln National (NYSE:LNC) Price Target to $37.00

Key Points

• UBS lowered its price target on Lincoln National to $37 from $43 and maintained a "neutral" rating, implying roughly a 6.1% upside from the prior close.
• Analysts are mixed: the consensus target is $44.77 with six Buys, seven Holds and two Sells, yielding an overall "Hold" rating.
• Shares traded near $34.88 after Lincoln reported an EPS beat ($2.21 vs. $1.86), and major shareholder National Life Insurance purchased about 2.25 million shares, materially increasing its stake.

Lincoln National (NYSE:LNC - Get Free Report) had its target price decreased by equities researchers at UBS Group from $43.00 to $37.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. UBS Group's target price points to a potential upside of 6.09% from the stock's previous close.

Several other research analysts have also issued reports on the company. TD Cowen dropped their price objective 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. Morgan Stanley lowered their target price on Lincoln National from $50.00 to $46.00 and set an "overweight" rating for the company in a research note on Tuesday, March 3rd. Mizuho started coverage on Lincoln National in a report on Tuesday, December 16th. They issued an "outperform" rating and a $52.00 price target for the company. Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and issued a $43.00 price target on shares of Lincoln National in a report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Lincoln National in a report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Lincoln National presently has an average rating of "Hold" and an average target price of $44.77.

Lincoln National Stock Performance

LNC stock traded down $0.78 during midday trading on Thursday, hitting $34.88. The stock had a trading volume of 1,216,444 shares, compared to its average volume of 2,283,890. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $36.65 and a 200 day simple moving average of $39.99. Lincoln National has a 52 week low of $28.23 and a 52 week high of $46.82. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 6.57, a P/E/G ratio of 1.57 and a beta of 1.23.

Lincoln National (NYSE:LNC - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.35. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the company posted $1.91 earnings per share. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Lincoln National will post 7.69 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder National Life Insuranc Lincoln acquired 2,254,486 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $11.09 per share, for a total transaction of $25,002,249.74. Following the completion of the transaction, the insider directly owned 9,784,322 shares in the company, valued at $108,508,130.98. This trade represents a 29.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Waltman Reid sold 3,050 shares of Lincoln National stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total value of $127,520.50. Following the completion of the sale, the executive vice president owned 118,567 shares of the company's stock, valued at approximately $4,957,286.27. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,050 shares of company stock worth $734,041 over the last three months. 0.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lincoln National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in Lincoln National during the fourth quarter worth about $31,000. Transamerica Financial Advisors LLC bought a new position in Lincoln National during the fourth quarter worth about $32,000. JPL Wealth Management LLC bought a new position in Lincoln National during the third quarter worth about $29,000. Salomon & Ludwin LLC bought a new position in Lincoln National during the third quarter worth about $32,000. Finally, Los Angeles Capital Management LLC bought a new position in Lincoln National during the fourth quarter worth about $34,000. Institutional investors own 72.81% of the company's stock.

About Lincoln National

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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