Lincoln National Co. (LNC) Receives $83.27 Consensus Target Price from Analysts
Shares of Lincoln National Co. (NYSE:LNC) have earned an average recommendation of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $83.27.
Several brokerages have recently issued reports on LNC. Wells Fargo & Co set a $80.00 price objective on shares of Lincoln National and gave the stock a “hold” rating in a research report on Thursday, November 16th. ValuEngine downgraded shares of Lincoln National from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Barclays reissued a “buy” rating and set a $90.00 price objective on shares of Lincoln National in a research report on Tuesday, January 9th. Goldman Sachs Group began coverage on shares of Lincoln National in a research report on Wednesday, October 18th. They set a “sell” rating and a $71.00 price objective for the company. Finally, JPMorgan Chase & Co. raised shares of Lincoln National from a “neutral” rating to an “overweight” rating and set a $87.00 price objective for the company in a research report on Tuesday, January 2nd.
Shares of Lincoln National (LNC) traded up $1.52 during mid-day trading on Friday, hitting $75.38. 2,590,000 shares of the stock traded hands, compared to its average volume of 1,470,000. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.10 and a quick ratio of 0.11. Lincoln National has a 52 week low of $61.45 and a 52 week high of $86.68. The company has a market capitalization of $16,500.00, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 1.15 and a beta of 1.96.
Lincoln National declared that its board has authorized a share repurchase plan on Friday, January 19th that allows the company to repurchase shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In related news, CFO Randal J. Freitag sold 31,657 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $84.32, for a total value of $2,669,318.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ellen Cooper sold 7,300 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $85.01, for a total transaction of $620,573.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,324 shares of company stock valued at $11,961,400. 1.12% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in LNC. Zurich Insurance Group Ltd FI acquired a new stake in Lincoln National in the second quarter valued at $1,759,000. First Merchants Corp acquired a new stake in Lincoln National in the third quarter valued at $735,000. Csenge Advisory Group acquired a new stake in Lincoln National in the third quarter valued at $272,000. Twin Capital Management Inc. lifted its stake in Lincoln National by 8.5% in the third quarter. Twin Capital Management Inc. now owns 201,505 shares of the financial services provider’s stock valued at $14,806,000 after acquiring an additional 15,803 shares during the last quarter. Finally, Denali Advisors LLC lifted its stake in Lincoln National by 155.1% in the third quarter. Denali Advisors LLC now owns 172,700 shares of the financial services provider’s stock valued at $12,690,000 after acquiring an additional 105,000 shares during the last quarter. 80.58% of the stock is owned by institutional investors and hedge funds.
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About Lincoln National
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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