Lincoln National (NYSE:LNC) Price Target Cut to $57.00 by Analysts at Royal Bank of Canada

Lincoln National (NYSE:LNCGet Rating) had its price target decreased by Royal Bank of Canada from $71.00 to $57.00 in a research note issued to investors on Friday morning, The Fly reports.

A number of other brokerages have also commented on LNC. The Goldman Sachs Group dropped their price target on Lincoln National from $78.00 to $60.00 and set a neutral rating on the stock in a report on Monday, June 6th. Barclays lowered their target price on Lincoln National from $58.00 to $49.00 and set an equal weight rating on the stock in a research note on Wednesday, July 13th. Evercore ISI lowered their target price on Lincoln National from $78.00 to $66.00 and set an in-line rating on the stock in a research note on Wednesday, July 6th. Wolfe Research restated a peer perform rating on shares of Lincoln National in a research note on Thursday, June 23rd. Finally, Morgan Stanley reduced their price target on Lincoln National from $80.00 to $68.00 and set an overweight rating for the company in a research report on Wednesday, July 6th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Lincoln National has a consensus rating of Hold and a consensus price target of $63.00.

Lincoln National Stock Down 2.3 %

LNC stock opened at $45.94 on Friday. Lincoln National has a twelve month low of $44.89 and a twelve month high of $77.57. The company has a quick ratio of 0.21, a current ratio of 0.19 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $49.90 and its 200-day moving average is $59.35. The firm has a market capitalization of $7.90 billion, a PE ratio of 9.57, a P/E/G ratio of 0.28 and a beta of 1.89.

Lincoln National (NYSE:LNCGet Rating) last posted its earnings results on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.31). The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.80 billion. Lincoln National had a net margin of 4.45% and a return on equity of 7.82%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 EPS. Sell-side analysts expect that Lincoln National will post 8.71 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Friday, July 8th. Lincoln National’s payout ratio is currently 37.50%.

Hedge Funds Weigh In On Lincoln National

Hedge funds and other institutional investors have recently modified their holdings of the company. PDT Partners LLC purchased a new position in shares of Lincoln National in the 4th quarter worth about $907,000. Harbor Investment Advisory LLC lifted its stake in shares of Lincoln National by 651.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,074 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 7,866 shares during the last quarter. Commerce Bank lifted its stake in shares of Lincoln National by 14.0% in the 4th quarter. Commerce Bank now owns 7,627 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 938 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Lincoln National by 22.3% in the 4th quarter. Victory Capital Management Inc. now owns 382,152 shares of the financial services provider’s stock valued at $26,085,000 after acquiring an additional 69,702 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Lincoln National by 27.2% in the 1st quarter. National Bank of Canada FI now owns 93,842 shares of the financial services provider’s stock valued at $6,200,000 after acquiring an additional 20,069 shares during the last quarter. 86.40% of the stock is currently owned by hedge funds and other institutional investors.

About Lincoln National

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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 fixed, variable, and indexed variable annuities.

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