Lincoln National (NYSE:LNC) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Lincoln National (NYSE:LNC) from an equal weight rating to an overweight rating in a research note published on Wednesday, MarketBeat reports. Wells Fargo & Company currently has $48.00 price objective on the financial services provider’s stock, up from their prior price objective of $41.00.

A number of other research firms have also recently commented on LNC. Jefferies Financial Group increased their target price on shares of Lincoln National from $52.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, December 15th. UBS Group increased their price objective on shares of Lincoln National from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Mizuho started coverage on shares of Lincoln National in a research report on Tuesday, December 16th. They issued an “outperform” rating and a $52.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lincoln National in a report on Monday, December 29th. Finally, TD Cowen reiterated a “hold” rating on shares of Lincoln National in a research note on Wednesday, January 28th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.58.

Lincoln National Stock Down 7.0%

NYSE LNC opened at $34.28 on Wednesday. The business has a fifty day moving average price of $41.63 and a two-hundred day moving average price of $41.37. The stock has a market capitalization of $6.52 billion, a PE ratio of 6.46, a PEG ratio of 1.65 and a beta of 1.30. Lincoln National has a fifty-two week low of $27.58 and a fifty-two week high of $46.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Thursday, February 12th. The financial services provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.35. Lincoln National had a return on equity of 18.52% and a net margin of 6.46%.The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the previous year, the firm earned $1.91 EPS. Lincoln National’s revenue was down 2.8% on a year-over-year basis. Equities analysts expect that Lincoln National will post 7.69 earnings per share for the current fiscal year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, April 10th. Lincoln National’s payout ratio is 33.90%.

Insider Buying and Selling

In related news, major shareholder National Life Insuranc Lincoln purchased 2,254,486 shares of Lincoln National stock in a transaction on Wednesday, February 25th. The shares were purchased at an average price of $11.09 per share, for a total transaction of $25,002,249.74. Following the transaction, the insider owned 9,784,322 shares of the company’s stock, valued at approximately $108,508,130.98. This represents a 29.94% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Waltman Reid sold 3,050 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total value of $127,520.50. Following the transaction, the executive vice president owned 118,567 shares of the company’s stock, valued at $4,957,286.27. This trade represents a 2.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by insiders.

Institutional Trading of Lincoln National

Several institutional investors have recently added to or reduced their stakes in LNC. Baird Financial Group Inc. bought a new position in Lincoln National during the 1st quarter worth approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Lincoln National by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock worth $2,585,000 after buying an additional 16,991 shares during the period. Empowered Funds LLC raised its stake in Lincoln National by 316.9% during the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock worth $2,123,000 after buying an additional 44,936 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock valued at $22,383,000 after buying an additional 29,421 shares during the period. Finally, Focus Partners Wealth lifted its holdings in Lincoln National by 39.1% in the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock valued at $701,000 after buying an additional 5,486 shares during the period. 72.81% of the stock is currently owned by institutional investors.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.