Morgan Stanley Increases Lincoln National Corporation (LNC) Price Target to $77.00
Lincoln National Corporation (NYSE:LNC) had its price target upped by equities research analysts at Morgan Stanley from $76.00 to $77.00 in a report issued on Thursday. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 3.77% from the company’s current price.
Several other equities analysts have also weighed in on LNC. Wells Fargo & Company reiterated a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. BidaskClub raised shares of Lincoln National Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Lincoln National Corporation in a research note on Monday, June 26th. Bank of America Corporation set a $78.00 price target on shares of Lincoln National Corporation in a research note on Tuesday, July 4th. Finally, Zacks Investment Research raised shares of Lincoln National Corporation from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, July 11th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $75.10.
Lincoln National Corporation (LNC) traded up 0.75% during mid-day trading on Thursday, reaching $74.76. 92,334 shares of the company were exchanged. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of 11.39 and a beta of 1.99. Lincoln National Corporation has a 1-year low of $47.36 and a 1-year high of $75.78. The company has a 50 day moving average of $69.82 and a 200-day moving average of $68.18.
Lincoln National Corporation (NYSE:LNC) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.12. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.56 billion. Lincoln National Corporation had a net margin of 10.85% and a return on equity of 10.99%. Lincoln National Corporation’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. On average, equities research analysts forecast that Lincoln National Corporation will post $7.47 EPS for the current year.
TRADEMARK VIOLATION WARNING: This article was first reported by Watch List News and is the property of of Watch List News. If you are viewing this article on another site, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The correct version of this article can be viewed at https://www.watchlistnews.com/morgan-stanley-increases-lincoln-national-corporation-lnc-price-target-to-77-00/1609921.html.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Trust Co. of Vermont purchased a new stake in Lincoln National Corporation during the 2nd quarter worth approximately $101,000. Sun Life Financial INC increased its stake in Lincoln National Corporation by 20,600.0% during the 2nd quarter. Sun Life Financial INC now owns 1,656 shares of the financial services provider’s stock worth $112,000 after buying an additional 1,648 shares during the period. D.A. Davidson & CO. increased its stake in Lincoln National Corporation by 8.6% during the 2nd quarter. D.A. Davidson & CO. now owns 1,726 shares of the financial services provider’s stock worth $116,000 after buying an additional 136 shares during the period. SRS Capital Advisors Inc. increased its stake in Lincoln National Corporation by 15.9% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,073 shares of the financial services provider’s stock worth $135,000 after buying an additional 285 shares during the period. Finally, Balentine LLC increased its stake in Lincoln National Corporation by 120.4% during the 1st quarter. Balentine LLC now owns 2,965 shares of the financial services provider’s stock worth $194,000 after buying an additional 1,620 shares during the period. 79.85% of the stock is currently owned by hedge funds and other institutional investors.
About Lincoln National Corporation
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.
Receive News & Ratings for Lincoln National Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.