Lincoln National (NYSE:LNC) PT Lowered to $51.00 at B. Riley

Lincoln National (NYSE:LNC) had its price objective reduced by B. Riley from $57.00 to $51.00 in a report released on Monday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Wells Fargo & Co reiterated a hold rating on shares of Lincoln National in a research note on Monday, January 6th. Royal Bank of Canada downgraded shares of Lincoln National from an outperform rating to a sector perform rating and reduced their target price for the stock from $70.00 to $40.00 in a research note on Friday, March 20th. TheStreet downgraded shares of Lincoln National from a b- rating to a c+ rating in a research note on Thursday, March 5th. ValuEngine downgraded shares of Lincoln National from a sell rating to a strong sell rating in a research note on Friday, March 20th. Finally, Piper Sandler downgraded shares of Lincoln National from an overweight rating to a neutral rating and reduced their target price for the stock from $60.00 to $36.00 in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Lincoln National has a consensus rating of Hold and a consensus target price of $60.00.

LNC stock traded up $3.68 during mid-day trading on Monday, hitting $28.77. The company had a trading volume of 5,818,508 shares, compared to its average volume of 2,599,685. The firm has a market cap of $4.46 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 0.26 and a beta of 1.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.20 and a current ratio of 0.20. Lincoln National has a 12 month low of $16.11 and a 12 month high of $67.52. The stock’s fifty day moving average price is $43.18 and its two-hundred day moving average price is $54.90.

Lincoln National (NYSE:LNC) last posted its earnings results on Wednesday, February 5th. The financial services provider reported $2.41 earnings per share for the quarter, hitting the consensus estimate of $2.41. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.49 billion. Lincoln National had a net margin of 5.13% and a return on equity of 9.91%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $2.15 earnings per share. Equities analysts anticipate that Lincoln National will post 9.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Monday, April 13th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $1.60 annualized dividend and a yield of 5.56%. Lincoln National’s dividend payout ratio is currently 18.39%.

In other news, EVP Lisa Buckingham acquired 2,000 shares of Lincoln National stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $26.82 per share, with a total value of $53,640.00. Following the completion of the purchase, the executive vice president now owns 76,333 shares in the company, valued at $2,047,251.06. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 3,900 shares of company stock valued at $116,305. 1.50% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Lincoln National by 2.2% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 47,174 shares of the financial services provider’s stock valued at $2,784,000 after purchasing an additional 1,024 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Lincoln National by 16.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,970,017 shares of the financial services provider’s stock valued at $116,251,000 after purchasing an additional 280,463 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Lincoln National by 5.8% during the fourth quarter. Wedge Capital Management L L P NC now owns 518,575 shares of the financial services provider’s stock valued at $30,601,000 after purchasing an additional 28,380 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Lincoln National by 3.2% during the third quarter. Parametric Portfolio Associates LLC now owns 1,314,633 shares of the financial services provider’s stock valued at $79,299,000 after purchasing an additional 40,777 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in Lincoln National by 146.3% during the third quarter. Worldquant Millennium Advisors LLC now owns 57,296 shares of the financial services provider’s stock valued at $3,456,000 after purchasing an additional 34,029 shares during the last quarter. 82.06% of the stock is owned by institutional investors.

About Lincoln National

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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