Piper Sandler Lowers Lincoln National (NYSE:LNC) Price Target to $34.00

Lincoln National (NYSE:LNC) had its target price decreased by equities researchers at Piper Sandler from $37.00 to $34.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective suggests a potential upside of 9.96% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley cut their price target on shares of Lincoln National from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Barclays began coverage on shares of Lincoln National in a research note on Wednesday, September 4th. They set an “equal weight” rating and a $35.00 target price for the company. Bank of America decreased their price target on shares of Lincoln National from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Jefferies Financial Group increased their price objective on Lincoln National from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. lifted their target price on Lincoln National from $28.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.64.

Lincoln National Price Performance

NYSE LNC opened at $30.92 on Wednesday. The firm has a market capitalization of $5.26 billion, a PE ratio of 4.23, a P/E/G ratio of 0.31 and a beta of 1.81. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.27 and a quick ratio of 0.27. Lincoln National has a 12 month low of $20.85 and a 12 month high of $36.46. The company’s 50 day simple moving average is $30.97 and its 200 day simple moving average is $30.69.

Lincoln National (NYSE:LNC) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.07. The company had revenue of $5.15 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Lincoln National had a return on equity of 17.13% and a net margin of 12.24%. During the same period last year, the firm earned $2.02 EPS. As a group, equities research analysts forecast that Lincoln National will post 5.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LNC. Massachusetts Financial Services Co. MA acquired a new stake in shares of Lincoln National during the 2nd quarter valued at $142,148,000. Principal Financial Group Inc. boosted its position in Lincoln National by 59.2% during the second quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after purchasing an additional 1,147,896 shares during the last quarter. Vanguard Group Inc. grew its stake in Lincoln National by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 21,688,670 shares of the financial services provider’s stock valued at $584,943,000 after purchasing an additional 1,094,789 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Lincoln National during the 1st quarter worth about $28,649,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Lincoln National by 49.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock valued at $66,892,000 after buying an additional 711,951 shares during the last quarter. 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.