Lincoln National (NYSE:LNC) PT Set at $69.00 by Barclays

Lincoln National (NYSE:LNC) has been given a $69.00 target price by equities research analysts at Barclays in a report issued on Monday, TipRanks reports. The firm presently has a “buy” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 33.02% from the company’s previous close.

A number of other research firms have also recently issued reports on LNC. Goldman Sachs Group upgraded Lincoln National from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $77.00 in a research report on Tuesday, June 25th. ValuEngine cut Lincoln National from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. UBS Group lifted their target price on Lincoln National from $67.00 to $69.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. set a $92.00 target price on Lincoln National and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $69.00 target price on shares of Lincoln National in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $74.36.

Shares of NYSE LNC traded down $2.61 during mid-day trading on Monday, reaching $51.87. The company had a trading volume of 136,396 shares, compared to its average volume of 1,617,236. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.21 and a current ratio of 0.21. Lincoln National has a one year low of $48.07 and a one year high of $71.27. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 0.67 and a beta of 1.91. The company has a 50-day moving average price of $63.36.

Lincoln National (NYSE:LNC) last released its earnings results on Wednesday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.32 by $0.04. Lincoln National had a return on equity of 11.85% and a net margin of 8.74%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts predict that Lincoln National will post 9.3 EPS for the current fiscal year.

In other news, EVP Lisa Buckingham sold 8,500 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.70, for a total transaction of $532,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Christine A. Janofsky sold 7,928 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $62.62, for a total value of $496,451.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,166 shares of company stock worth $1,785,211. Company insiders own 1.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LNC. Dimensional Fund Advisors LP boosted its holdings in shares of Lincoln National by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,216,834 shares of the financial services provider’s stock valued at $113,748,000 after buying an additional 57,696 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Lincoln National by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,898,554 shares of the financial services provider’s stock valued at $148,472,000 after buying an additional 197,294 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Lincoln National in the 1st quarter valued at about $330,000. Virtu Financial LLC acquired a new position in shares of Lincoln National in the 1st quarter valued at about $414,000. Finally, Retirement Systems of Alabama boosted its holdings in shares of Lincoln National by 8.7% in the 1st quarter. Retirement Systems of Alabama now owns 347,828 shares of the financial services provider’s stock valued at $20,418,000 after buying an additional 27,704 shares during the period. Institutional investors own 81.53% of the company’s stock.

Lincoln National Company Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers variable, fixed, and indexed variable annuities.

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Analyst Recommendations for Lincoln National (NYSE:LNC)

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