JPMorgan Chase & Co. Issues Pessimistic Forecast for Lincoln National (NYSE:LNC) Stock Price

Lincoln National (NYSE:LNC) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $49.00 to $47.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 18.49% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. UBS Group lifted their target price on shares of Lincoln National from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, October 6th. Barclays upped their target price on shares of Lincoln National from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 7th. National Bank Financial set a $49.00 price target on shares of Lincoln National in a report on Wednesday, October 7th. Weiss Ratings upgraded shares of Lincoln National from a “hold (c)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Finally, Morgan Stanley reduced their price target on shares of Lincoln National from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $48.67.

Lincoln National Stock Down 1.4%

Shares of NYSE:LNC traded down $0.56 on Thursday, hitting $39.66. 380,338 shares of the company traded hands, compared to its average volume of 2,028,789. Lincoln National has a 52 week low of $32.18 and a 52 week high of $47.67. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $42.81 and a 200-day simple moving average of $39.33. The company has a market cap of $7.59 billion, a PE ratio of 3.44, a PEG ratio of 1.37 and a beta of 1.16.

Lincoln National (NYSE:LNC) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.28. The company had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. Lincoln National’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.36 EPS. As a group, research analysts expect that Lincoln National will post 7.93 earnings per share for the current year.

Insider Buying and Selling at Lincoln National

In related news, Director Gary Kelly sold 15,007 shares of Lincoln National stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total value of $397,685.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sean Woodroffe sold 11,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $45.28, for a total transaction of $498,080.00. Following the transaction, the executive vice president owned 119,947 shares in the company, valued at $5,431,200.16. This represents a 8.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Lincoln National

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont bought a new position in shares of Lincoln National during the 2nd quarter valued at $28,000. NBT Bank N A NY increased its position in Lincoln National by 2,051.1% during the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 923 shares during the last quarter. SJS Investment Consulting Inc. increased its position in Lincoln National by 6,269.6% during the first quarter. SJS Investment Consulting Inc. now owns 1,465 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 1,442 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in Lincoln National by 935.2% in the second quarter. CoreCap Advisors LLC now owns 1,853 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 1,674 shares during the period. Finally, Eastern Bank lifted its holdings in Lincoln National by 45.7% in the second quarter. Eastern Bank now owns 1,865 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 585 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

About Lincoln National

Lincoln National Corporation, operating under the Lincoln Financial Group brand, is a financial services company that provides insurance and retirement solutions primarily in the United States. Its businesses serve individuals, families, employers and institutions through a portfolio of life insurance, annuities and workplace benefit products.

The company’s offerings include term and permanent life insurance, variable and fixed annuities, and retirement plan services designed to support income and financial planning needs.