Lincoln National Corporation (NYSE:LNC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $76.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.47% from the company’s previous close.
According to Zacks, “Over the last one year, Lincoln National’s shares have outperformed the industry. The company is well positioned for long-term growth, given its focus on reducing exposure to businesses with long-term guarantee. It has also streamlined its business by axing unprofitable and non-core lines. In the second-quarter 2017 its earnings surpassed the Zacks Consensus Estimate and grew year over year on the back of on higher premiums, fee income, net investment income as well as other income. The stock has witnessed an upward revision in the Zacks Consensus Estimate for 2017 over the past seven days. “
Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays PLC lifted their target price on shares of Lincoln National Corporation from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Lincoln National Corporation in a report on Thursday, June 8th. Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a report on Tuesday, July 4th. Finally, Royal Bank Of Canada lifted their target price on shares of Lincoln National Corporation from $77.00 to $83.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Lincoln National Corporation currently has a consensus rating of “Hold” and a consensus target price of $73.40.
Lincoln National Corporation (LNC) opened at 68.18 on Thursday. The company has a market capitalization of $15.10 billion, a P/E ratio of 10.39 and a beta of 1.99. The firm has a 50-day moving average of $71.19 and a 200 day moving average of $68.22. Lincoln National Corporation has a one year low of $44.74 and a one year high of $75.78.
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 firm had revenue of $3.58 billion during 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%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 EPS. On average, equities analysts forecast that Lincoln National Corporation will post $7.47 EPS for the current fiscal year.
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In other Lincoln National Corporation news, Director Isaiah Tidwell sold 13,946 shares of Lincoln National Corporation stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $65.04, for a total transaction of $907,047.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.41% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in LNC. Macquarie Group Ltd. boosted its stake in shares of Lincoln National Corporation by 26.0% in the fourth quarter. Macquarie Group Ltd. now owns 9,600 shares of the financial services provider’s stock valued at $637,000 after buying an additional 1,982 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Lincoln National Corporation by 27.3% in the first quarter. Nisa Investment Advisors LLC now owns 64,698 shares of the financial services provider’s stock valued at $4,234,000 after buying an additional 13,875 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Lincoln National Corporation during the first quarter valued at about $258,000. Korea Investment CORP boosted its stake in shares of Lincoln National Corporation by 1,057.8% in the first quarter. Korea Investment CORP now owns 417,693 shares of the financial services provider’s stock valued at $27,338,000 after buying an additional 381,618 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Lincoln National Corporation by 1.0% in the first quarter. ProShare Advisors LLC now owns 52,106 shares of the financial services provider’s stock valued at $3,410,000 after buying an additional 522 shares during the period. 80.84% of the stock is currently owned by 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.
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