Wolfe Research Downgrades Lincoln National (NYSE:LNC) to Market Perform

Lincoln National (NYSE:LNCGet Rating) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $53.00 price objective on the financial services provider’s stock, down from their prior price objective of $99.00. Wolfe Research’s price objective would suggest a potential upside of 15.34% from the company’s current price.

Other research analysts also recently issued research reports about the company. StockNews.com assumed coverage on Lincoln National in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler dropped their target price on shares of Lincoln National from $75.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, May 27th. The Goldman Sachs Group dropped their target price on Lincoln National from $78.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, June 6th. Citigroup started coverage on shares of Lincoln National in a research note on Monday, May 23rd. They set a “neutral” rating and a $56.00 target price for the company. Finally, Barclays lowered their target price on Lincoln National from $66.00 to $58.00 in a report on Tuesday, May 10th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.00.

Shares of NYSE:LNC opened at $45.95 on Wednesday. Lincoln National has a fifty-two week low of $45.25 and a fifty-two week high of $77.57. The firm’s 50 day moving average price is $56.43 and its 200 day moving average price is $63.82. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.45. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 0.27 and a beta of 1.91.

Lincoln National (NYSE:LNCGet Rating) last posted its earnings results on Wednesday, May 4th. The financial services provider reported $1.66 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.31). The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Lincoln National had a net margin of 6.62% and a return on equity of 7.68%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company earned $1.82 EPS. On average, equities analysts anticipate that Lincoln National will post 9.67 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Johnson Financial Group Inc. purchased a new position in Lincoln National during the 4th quarter valued at about $28,000. Achmea Investment Management B.V. acquired a new stake in shares of Lincoln National during the 1st quarter valued at $30,000. Private Capital Group LLC increased its stake in shares of Lincoln National by 48.2% in the first quarter. Private Capital Group LLC now owns 483 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 157 shares during the last quarter. Hanson & Doremus Investment Management boosted its position in Lincoln National by 735.6% during the first quarter. Hanson & Doremus Investment Management now owns 493 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 434 shares during the last quarter. Finally, Glassman Wealth Services grew its stake in Lincoln National by 136.6% in the fourth quarter. Glassman Wealth Services now owns 504 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 291 shares in the last quarter. 86.40% of the stock is owned by institutional investors and hedge funds.

Lincoln National Company Profile (Get Rating)

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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