Lincoln National (NYSE:LNC) Given New $69.00 Price Target at Barclays

Lincoln National (NYSE:LNC) had its target price upped by Barclays from $64.00 to $69.00 in a research note issued to investors on Monday, The Fly reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also recently commented on LNC. Piper Sandler decreased their price target on shares of Lincoln National from $70.00 to $65.00 and set a neutral rating for the company in a report on Thursday, July 8th. They noted that the move was a valuation call. Wells Fargo & Company boosted their target price on shares of Lincoln National from $70.00 to $72.00 and gave the stock an equal weight rating in a research report on Monday, August 9th. Zacks Investment Research raised shares of Lincoln National from a sell rating to a hold rating and set a $65.00 target price on the stock in a research report on Friday, July 9th. lifted their price target on shares of Lincoln National from $67.00 to $68.00 and gave the stock a neutral rating in a research note on Monday, June 21st. Finally, Royal Bank of Canada lifted their price target on shares of Lincoln National from $69.00 to $70.00 and gave the stock a sector perform rating in a research note on Friday, August 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $66.71.

Shares of LNC opened at $67.44 on Monday. The firm’s 50 day moving average is $65.49 and its 200-day moving average is $65.03. The stock has a market capitalization of $12.67 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.16 and a beta of 2.24. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.19 and a quick ratio of 0.19. Lincoln National has a 12-month low of $29.42 and a 12-month high of $71.68.

Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, August 4th. The financial services provider reported $3.17 EPS for the quarter, topping the consensus estimate of $2.30 by $0.87. Lincoln National had a net margin of 7.43% and a return on equity of 5.47%. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same period last year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. As a group, equities research analysts forecast that Lincoln National will post 10.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Monday, October 11th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, October 7th. Lincoln National’s payout ratio is presently 37.75%.

A number of institutional investors and hedge funds have recently bought and sold shares of LNC. Caisse DE Depot ET Placement DU Quebec increased its position in Lincoln National by 3,945.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,221,727 shares of the financial services provider’s stock worth $138,347,000 after buying an additional 2,166,802 shares during the period. Factorial Partners LLC increased its position in shares of Lincoln National by 7,946.1% in the first quarter. Factorial Partners LLC now owns 1,432,210 shares of the financial services provider’s stock worth $23,000,000 after purchasing an additional 1,414,410 shares during the period. Amundi bought a new position in shares of Lincoln National in the second quarter worth $79,694,000. APG Asset Management N.V. boosted its stake in Lincoln National by 28.7% in the first quarter. APG Asset Management N.V. now owns 3,484,708 shares of the financial services provider’s stock valued at $184,628,000 after buying an additional 776,843 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in Lincoln National by 76.8% in the second quarter. Nuveen Asset Management LLC now owns 1,582,415 shares of the financial services provider’s stock valued at $99,440,000 after buying an additional 687,151 shares in the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.

Lincoln National Company Profile

Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism. The company operates through the following segments: Annuities, Retirement Plan Services, Life Insurance, Group Protection, and Other Operations.

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