Wells Fargo & Company Lowers Lincoln National (NYSE:LNC) Price Target to $28.00

Lincoln National (NYSE:LNC) had its price target lowered by stock analysts at Wells Fargo & Company from $29.00 to $28.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 10.51% from the stock’s previous close.

Other analysts have also issued reports about the stock. Barclays cut their target price on shares of Lincoln National from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. TD Cowen raised their price target on Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. StockNews.com upgraded Lincoln National from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Piper Sandler reduced their price objective on Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.40.

Lincoln National Stock Up 1.7 %

Shares of NYSE:LNC traded up $0.53 during trading on Tuesday, reaching $31.29. The stock had a trading volume of 142,303 shares, compared to its average volume of 1,333,135. The firm’s 50-day simple moving average is $33.42 and its 200 day simple moving average is $32.21. The company has a market capitalization of $5.33 billion, a P/E ratio of 22.35, a PEG ratio of 0.29 and a beta of 1.78. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.73. Lincoln National has a one year low of $25.09 and a one year high of $36.98.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.42. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.61 billion. During the same period in the previous year, the firm earned $0.23 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, research analysts expect that Lincoln National will post 7.03 EPS for the current fiscal year.

Insider Activity at Lincoln National

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the transaction, the executive vice president now owns 99,644 shares in the company, valued at approximately $3,587,184. This trade represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lincoln National

A number of hedge funds have recently bought and sold shares of LNC. Blue Trust Inc. grew its holdings in shares of Lincoln National by 535.5% during the third quarter. Blue Trust Inc. now owns 1,074 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 905 shares in the last quarter. Larson Financial Group LLC raised its holdings in Lincoln National by 95.3% in the third quarter. Larson Financial Group LLC now owns 1,086 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 530 shares in the last quarter. Eastern Bank purchased a new stake in shares of Lincoln National in the third quarter worth $40,000. Meeder Asset Management Inc. purchased a new stake in shares of Lincoln National during the third quarter valued at $48,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Lincoln National by 459.9% during the third quarter. Venturi Wealth Management LLC now owns 2,083 shares of the financial services provider’s stock valued at $66,000 after buying an additional 1,711 shares during the last quarter. 72.81% of the stock is owned by hedge funds and other institutional investors.

About Lincoln National

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.