JPMorgan Chase & Co. Boosts Lincoln National (NYSE:LNC) Price Target to $34.00

Lincoln National (NYSE:LNC) had its price target upped by JPMorgan Chase & Co. from $28.00 to $34.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their price target on Lincoln National from $28.00 to $27.00 and set an equal weight rating for the company in a research note on Friday, May 10th. Keefe, Bruyette & Woods raised 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. StockNews.com raised shares of Lincoln National from a sell rating to a hold rating in a research note on Monday, April 15th. Piper Sandler increased their price objective on shares of Lincoln National from $30.00 to $34.00 and gave the stock a neutral rating in a research report on Friday, June 28th. Finally, Jefferies Financial Group boosted their target price on shares of Lincoln National from $34.00 to $38.00 and gave the company a buy rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $31.20.

Lincoln National Trading Up 0.4 %

LNC opened at $31.49 on Tuesday. The company’s 50 day moving average price is $30.84 and its two-hundred day moving average price is $28.94. The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 4.31, a PEG ratio of 0.25 and a beta of 1.84. Lincoln National has a fifty-two week low of $20.85 and a fifty-two week high of $33.33. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.26 and a quick ratio of 0.26.

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

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date is Wednesday, July 10th. Lincoln National’s dividend payout ratio is currently 24.62%.

Insider Activity at Lincoln National

In other Lincoln National news, EVP Sean Woodroffe sold 55,127 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 198,255 shares in the company, valued at $6,457,165.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is currently owned by insiders.

Institutional Trading of Lincoln National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division bought a new stake in Lincoln National during the first quarter worth $25,000. Financial Gravity Asset Management Inc. raised its holdings in shares of Lincoln National by 3,930.8% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 1,022 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Lincoln National during the fourth quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in Lincoln National during the fourth quarter worth about $35,000. Finally, CVA Family Office LLC bought a new stake in Lincoln National in the 4th quarter worth about $37,000. 72.81% of the stock is owned by institutional investors.

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.