Lincoln National (NYSE:LNC) Research Coverage Started at TD Cowen

TD Cowen began coverage on shares of Lincoln National (NYSE:LNC) in a research report released on Wednesday morning, MarketBeat reports. The brokerage issued a hold rating and a $34.00 price objective on the financial services provider’s stock.

Several other brokerages also recently weighed in on LNC. Morgan Stanley reduced their price target on Lincoln National from $30.00 to $29.00 and set an equal weight rating on the stock in a report on Monday, August 19th. Barclays increased their price target on Lincoln National from $35.00 to $36.00 and gave the stock an equal weight rating in a report on Tuesday, October 8th. Piper Sandler reduced their price target on Lincoln National from $37.00 to $34.00 and set a neutral rating on the stock in a report on Wednesday, October 2nd. Jefferies Financial Group increased their price target on Lincoln National from $34.00 to $38.00 and gave the stock a buy rating in a report on Friday, June 28th. Finally, Bank of America reduced their price target on Lincoln National from $32.00 to $31.00 and set a neutral rating on the stock in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $33.00.

Lincoln National Price Performance

NYSE:LNC opened at $32.43 on Wednesday. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 4.44, a PEG ratio of 0.31 and a beta of 1.81. Lincoln National has a 1 year low of $20.85 and a 1 year high of $36.46. The business has a 50 day simple moving average of $30.77 and a 200-day simple moving average of $30.81. 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 (NYSE:LNC) last posted its quarterly earnings data 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 business had revenue of $5.15 billion during the quarter, compared to analyst estimates 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 company earned $2.02 EPS. Equities analysts forecast that Lincoln National will post 5.73 EPS for the current year.

Lincoln National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.55%. Lincoln National’s dividend payout ratio is presently 24.62%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Lincoln National by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 21,854,837 shares of the financial services provider’s stock valued at $697,825,000 after acquiring an additional 166,167 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Lincoln National in the 2nd quarter valued at $142,148,000. Principal Financial Group Inc. increased its holdings in shares of Lincoln National by 59.2% in the 2nd quarter. Principal Financial Group Inc. now owns 3,086,324 shares of the financial services provider’s stock valued at $95,985,000 after acquiring an additional 1,147,896 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Lincoln National by 14.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock valued at $87,970,000 after acquiring an additional 348,601 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Lincoln National by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,249,725 shares of the financial services provider’s stock worth $69,966,000 after purchasing an additional 31,235 shares in the last quarter. 72.81% of the stock is currently owned by hedge funds and other 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.