Piper Sandler Cuts Lincoln National (NYSE:LNC) Price Target to $30.00

Lincoln National (NYSE:LNC) had its price objective decreased by Piper Sandler from $32.00 to $30.00 in a research report report published on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Lincoln National from $26.00 to $28.00 and gave the company an equal weight rating in a report on Thursday, April 11th. Jefferies Financial Group raised Lincoln National from an underperform rating to a hold rating in a research note on Monday, February 12th. Evercore ISI lifted their price target on Lincoln National from $33.00 to $35.00 and gave the company an in-line rating in a research note on Thursday, April 11th. UBS Group increased their price objective on Lincoln National from $25.00 to $28.00 and gave the stock a neutral rating in a research report on Wednesday, January 10th. Finally, The Goldman Sachs Group upped their price target on shares of Lincoln National from $29.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Lincoln National has a consensus rating of Hold and an average target price of $28.27.

Lincoln National Stock Performance

Shares of LNC stock opened at $29.30 on Monday. Lincoln National has a 52-week low of $18.50 and a 52-week high of $32.43. The stock’s 50-day moving average price is $28.57 and its 200 day moving average price is $26.70. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $4.98 billion, a PE ratio of 4.01, a price-to-earnings-growth ratio of 0.18 and a beta of 1.80.

Lincoln National (NYSE:LNC) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.32 by $0.13. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The business had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $4.44 billion. As a group, equities research analysts forecast that Lincoln National will post 6.25 EPS for the current year.

Lincoln National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.45 per share. The ex-dividend date was Tuesday, April 9th. This represents a $1.80 annualized dividend and a dividend yield of 6.14%. Lincoln National’s payout ratio is currently 24.62%.

Insider Transactions at Lincoln National

In other news, Director Owen Ryan bought 10,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $25.90 per share, for a total transaction of $259,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $259,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Lincoln National

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Security Financial Services INC. boosted its position in Lincoln National by 4.6% in the 4th quarter. Security Financial Services INC. now owns 8,803 shares of the financial services provider’s stock valued at $237,000 after buying an additional 385 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Lincoln National by 32.6% in the first quarter. Global Retirement Partners LLC now owns 1,667 shares of the financial services provider’s stock valued at $53,000 after buying an additional 410 shares during the last quarter. Greenleaf Trust grew its position in shares of Lincoln National by 3.9% during the third quarter. Greenleaf Trust now owns 12,557 shares of the financial services provider’s stock worth $310,000 after acquiring an additional 468 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Lincoln National by 14.4% in the 4th quarter. Allworth Financial LP now owns 4,238 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 532 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in Lincoln National by 0.6% during the 4th quarter. Yousif Capital Management LLC now owns 91,833 shares of the financial services provider’s stock valued at $2,477,000 after purchasing an additional 535 shares during the period. Institutional investors and hedge funds own 72.81% of the company’s stock.

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.