Lincoln National (NYSE:LNC) PT Raised to $34.00 at JPMorgan Chase & Co.

Lincoln National (NYSE:LNC) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $28.00 to $34.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.94% from the stock’s previous close.

Several other research firms also recently weighed in on LNC. Evercore ISI raised their target price on Lincoln National from $33.00 to $35.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler raised their target price on Lincoln National from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Jefferies Financial Group raised their target price on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company decreased their target price on 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. Finally, Keefe, Bruyette & Woods raised their target price on Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.20.

Lincoln National Stock Up 0.4 %

Shares of LNC opened at $31.50 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.87. Lincoln National has a 12 month low of $20.85 and a 12 month high of $33.33. The stock’s 50 day moving average is $30.77 and its two-hundred day moving average is $28.92. The firm has a market cap of $5.36 billion, a P/E ratio of 4.31, a PEG ratio of 0.24 and a beta of 1.84.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.10 by $0.27. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.64 billion. Analysts predict that Lincoln National will post 5.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lincoln National news, EVP Sean Woodroffe sold 55,127 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the completion of the sale, the executive vice president now owns 198,255 shares of the company’s stock, valued at $6,457,165.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Lincoln National

Several institutional investors and hedge funds have recently modified their holdings of LNC. Envestnet Asset Management Inc. raised its holdings in shares of Lincoln National by 32.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 217,546 shares of the financial services provider’s stock valued at $5,371,000 after buying an additional 53,645 shares during the period. FMR LLC raised its holdings in shares of Lincoln National by 0.8% in the 3rd quarter. FMR LLC now owns 139,087 shares of the financial services provider’s stock valued at $3,434,000 after buying an additional 1,132 shares during the period. Mariner LLC raised its holdings in shares of Lincoln National by 23.2% in the 3rd quarter. Mariner LLC now owns 27,640 shares of the financial services provider’s stock valued at $682,000 after buying an additional 5,200 shares during the period. Natixis Advisors L.P. raised its holdings in shares of Lincoln National by 17.5% in the 3rd quarter. Natixis Advisors L.P. now owns 91,348 shares of the financial services provider’s stock valued at $2,255,000 after buying an additional 13,630 shares during the period. Finally, Trexquant Investment LP raised its holdings in shares of Lincoln National by 257.0% in the 3rd quarter. Trexquant Investment LP now owns 28,875 shares of the financial services provider’s stock valued at $713,000 after buying an additional 20,787 shares during the period. Hedge funds and other institutional investors own 72.81% of the company’s stock.

About Lincoln National

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.