Lincoln National (NYSE:LNC) Given New $38.00 Price Target at Jefferies Financial Group

Lincoln National (NYSE:LNC) had its price target upped by Jefferies Financial Group from $34.00 to $38.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. StockNews.com raised shares of Lincoln National from a sell rating to a hold rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their price target on shares of Lincoln National from $26.00 to $29.00 and gave the stock an underweight rating in a report on Tuesday, April 2nd. Evercore ISI increased their price target on shares of Lincoln National from $33.00 to $35.00 and gave the stock an in-line rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods increased their price target on shares of Lincoln National from $30.00 to $32.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company lowered their target price on shares of Lincoln National from $28.00 to $27.00 and set an equal weight rating on the stock in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lincoln National currently has a consensus rating of Hold and a consensus price target of $30.70.

Lincoln National Price Performance

Shares of NYSE:LNC opened at $31.07 on Friday. The company has a 50-day simple moving average of $30.59 and a 200-day simple moving average of $28.80. Lincoln National has a one year low of $20.85 and a one year high of $33.33. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 4.25, a PEG ratio of 0.25 and a beta of 1.85.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.27. Lincoln National had a net margin of 11.31% and a return on equity of 19.50%. The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.64 billion. On average, analysts predict that Lincoln National will post 6 EPS for the current year.

Lincoln National Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a $0.45 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $1.80 annualized dividend and a dividend yield of 5.79%. Lincoln National’s dividend payout ratio is presently 24.62%.

Insider Activity

In related news, EVP Sean Woodroffe sold 55,127 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the sale, the executive vice president now owns 198,255 shares in the company, valued at $6,457,165.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Lincoln National

A number of hedge funds have recently bought and sold shares of LNC. Central Pacific Bank Trust Division acquired a new stake in Lincoln National during the first quarter worth approximately $25,000. Financial Gravity Asset Management Inc. boosted its position in Lincoln National by 3,930.8% during the third quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,022 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Lincoln National during the fourth quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in Lincoln National during the fourth quarter worth approximately $35,000. Finally, CVA Family Office LLC acquired a new stake in Lincoln National during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

Lincoln National Company Profile

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.