Wells Fargo & Company Forecasts Strong Price Appreciation for Lincoln National (NYSE:LNC) Stock

Lincoln National (NYSE:LNC) had its price target boosted by equities research analysts at Wells Fargo & Company from $44.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 18.06% from the stock’s current price.

Several other brokerages have also recently issued reports on LNC. Mizuho lifted their price objective on Lincoln National from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays upgraded shares of Lincoln National from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $42.00 to $45.00 in a research note on Monday. Morgan Stanley reduced their target price on shares of Lincoln National from $43.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Lincoln National from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. cut their target price on Lincoln National from $42.00 to $40.00 and set an “underweight” rating on the stock in a research report on Thursday, May 7th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Lincoln National has an average rating of “Hold” and an average target price of $44.79.

Lincoln National Stock Up 2.8%

Shares of NYSE:LNC traded up $1.09 during trading on Thursday, hitting $39.81. The company’s stock had a trading volume of 951,893 shares, compared to its average volume of 2,038,489. Lincoln National has a fifty-two week low of $32.18 and a fifty-two week high of $46.82. The business has a 50 day moving average price of $36.19 and a two-hundred day moving average price of $37.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.25 and a current ratio of 0.25. The company has a market capitalization of $7.61 billion, a PE ratio of 4.62, a P/E/G ratio of 2.51 and a beta of 1.17.

Lincoln National (NYSE:LNC) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $1.60 earnings per share. As a group, research analysts expect that Lincoln National will post 7.73 EPS for the current fiscal year.

Insider Activity at Lincoln National

In related news, EVP Craigt T. Beazer sold 30,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $34.45, for a total value of $1,033,500.00. Following the completion of the sale, the executive vice president owned 103,906 shares in the company, valued at $3,579,561.70. This represents a 22.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. purchased a new position in shares of Lincoln National during the 1st quarter worth approximately $241,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Lincoln National by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,981 shares of the financial services provider’s stock worth $2,585,000 after acquiring an additional 16,991 shares during the period. Empowered Funds LLC raised its position in Lincoln National by 316.9% in the first quarter. Empowered Funds LLC now owns 59,115 shares of the financial services provider’s stock worth $2,123,000 after acquiring an additional 44,936 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Lincoln National by 5.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 623,322 shares of the financial services provider’s stock worth $22,383,000 after acquiring an additional 29,421 shares in the last quarter. Finally, Focus Partners Wealth lifted its holdings in Lincoln National by 39.1% in the first quarter. Focus Partners Wealth now owns 19,530 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 5,486 shares during the period. 72.81% of the stock is owned by hedge funds and other institutional investors.

About Lincoln National

Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.

The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.