Lincoln National (NYSE:LNC) Downgraded by Wolfe Research to “Peer Perform”

Lincoln National (NYSE:LNCGet Rating) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They presently have a $53.00 price target on the financial services provider’s stock, down from their prior price target of $99.00. Wolfe Research’s price objective would indicate a potential upside of 8.21% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Barclays reduced their price target on Lincoln National from $66.00 to $58.00 in a research report on Tuesday, May 10th. StockNews.com initiated coverage on shares of Lincoln National in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler reduced their price objective on shares of Lincoln National from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, May 27th. Morgan Stanley decreased their price objective on Lincoln National from $81.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, April 8th. Finally, The Goldman Sachs Group dropped their target price on Lincoln National from $78.00 to $60.00 and set a “neutral” rating on the stock in a report on Monday, June 6th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $68.00.

LNC opened at $48.98 on Wednesday. The stock has a market capitalization of $8.42 billion, a P/E ratio of 7.20, a P/E/G ratio of 0.27 and a beta of 1.91. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.45. Lincoln National has a 12 month low of $45.25 and a 12 month high of $77.57. The firm’s fifty day simple moving average is $56.11 and its 200 day simple moving average is $63.63.

Lincoln National (NYSE:LNCGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.97 by ($0.31). The firm had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.80 billion. Lincoln National had a net margin of 6.62% and a return on equity of 7.68%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.82 EPS. On average, equities research analysts predict that Lincoln National will post 9.67 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. HighTower Advisors LLC lifted its position in Lincoln National by 4.9% during the third quarter. HighTower Advisors LLC now owns 9,490 shares of the financial services provider’s stock worth $650,000 after acquiring an additional 445 shares during the last quarter. Royal Bank of Canada boosted its stake in Lincoln National by 12.1% in the 3rd quarter. Royal Bank of Canada now owns 123,143 shares of the financial services provider’s stock valued at $8,467,000 after purchasing an additional 13,314 shares during the period. Point72 Asset Management L.P. acquired a new position in Lincoln National in the 3rd quarter valued at $660,000. MML Investors Services LLC increased its position in Lincoln National by 7.8% during the 3rd quarter. MML Investors Services LLC now owns 6,163 shares of the financial services provider’s stock worth $424,000 after buying an additional 447 shares during the period. Finally, LPL Financial LLC lifted its holdings in shares of Lincoln National by 10.9% during the third quarter. LPL Financial LLC now owns 49,694 shares of the financial services provider’s stock worth $3,417,000 after buying an additional 4,867 shares in the last quarter. 86.40% of the stock is currently owned by institutional investors.

About Lincoln National (Get Rating)

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The Annuities segment offers fixed, variable, and indexed variable annuities.

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