Lincoln National (NYSE:LNC) Receives New Coverage from Analysts at Barclays

Barclays assumed coverage on shares of Lincoln National (NYSE:LNC) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $35.00 target price on the financial services provider’s stock.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Lincoln National from $28.00 to $34.00 and gave the stock an underweight rating in a research report on Tuesday, July 2nd. Piper Sandler raised their price objective on Lincoln National from $30.00 to $34.00 and gave the stock a neutral rating in a report on Friday, June 28th. Bank of America lowered their target price on Lincoln National from $32.00 to $31.00 and set a neutral rating for the company in a report on Thursday, July 11th. Jefferies Financial Group raised their price target on Lincoln National from $34.00 to $38.00 and gave the company a buy rating in a research note on Friday, June 28th. Finally, Morgan Stanley lowered their price objective on shares of Lincoln National from $30.00 to $29.00 and set an equal weight rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Lincoln National has an average rating of Hold and a consensus target price of $32.64.

Lincoln National Price Performance

LNC opened at $29.45 on Wednesday. The business has a fifty day moving average of $31.42 and a 200 day moving average of $30.25. The stock has a market cap of $5.01 billion, a P/E ratio of 4.03, a PEG ratio of 0.33 and a beta of 1.84. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.82. Lincoln National has a 52-week low of $20.85 and a 52-week high of $36.46.

Lincoln National (NYSE:LNC) last issued its earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.07. The firm had revenue of $5.15 billion during the quarter, compared to analyst estimates of $4.65 billion. Lincoln National had a net margin of 12.24% and a return on equity of 17.13%. During the same period in the previous year, the firm earned $2.02 earnings per share. As a group, sell-side analysts anticipate that Lincoln National will post 5.74 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.45 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a yield of 6.11%. Lincoln National’s payout ratio is 24.62%.

Hedge Funds Weigh In On Lincoln National

Several institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC grew its stake in Lincoln National by 32.6% during the 1st quarter. Global Retirement Partners LLC now owns 1,667 shares of the financial services provider’s stock worth $53,000 after buying an additional 410 shares during the last quarter. Fifth Third Bancorp grew its position in Lincoln National by 1.6% during the 2nd quarter. Fifth Third Bancorp now owns 26,341 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 420 shares during the period. Gateway Investment Advisers LLC raised its stake in shares of Lincoln National by 4.4% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,018 shares of the financial services provider’s stock valued at $312,000 after buying an additional 426 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of Lincoln National by 106.7% in the 2nd quarter. Whittier Trust Co. now owns 835 shares of the financial services provider’s stock valued at $26,000 after buying an additional 431 shares during the period. Finally, National Bank of Canada FI grew its holdings in Lincoln National by 1.0% during the second quarter. National Bank of Canada FI now owns 45,854 shares of the financial services provider’s stock worth $1,435,000 after acquiring an additional 468 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

Lincoln National Company Profile

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.