Lincoln National (NYSE:LNC) Price Target Lowered to $28.00 at Wells Fargo & Company

Lincoln National (NYSE:LNC - Get Free Report) had its price target dropped by research analysts at Wells Fargo & Company from $29.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price objective points to a potential downside of 11.22% from the stock's previous close.

Several other analysts also recently weighed in on the company. TD Cowen lifted their target price on Lincoln National from $34.00 to $37.00 and gave the company a "hold" rating in a research note on Wednesday, November 27th. StockNews.com raised shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Barclays dropped their price target on shares of Lincoln National from $38.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. Finally, Piper Sandler decreased their price objective on shares of Lincoln National from $37.00 to $34.00 and set a "neutral" rating for the company in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $33.40.

Lincoln National Stock Performance

Shares of NYSE LNC traded up $0.78 during mid-day trading on Tuesday, hitting $31.54. The company had a trading volume of 1,178,701 shares, compared to its average volume of 1,467,438. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 0.29 and a beta of 1.78. The firm's 50 day simple moving average is $33.42 and its two-hundred day simple moving average is $32.21. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.27 and a quick ratio of 0.27. Lincoln National has a 12 month low of $25.09 and a 12 month high of $36.98.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.42. The company had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a net margin of 2.51% and a return on equity of 18.15%. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. As a group, equities research analysts forecast that Lincoln National will post 7.03 earnings per share for the current year.

Insider Activity

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $36.00, for a total transaction of $103,068.00. Following the sale, the executive vice president now directly owns 99,644 shares of the company's stock, valued at $3,587,184. The trade was a 2.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. OLD National Bancorp IN grew its position in Lincoln National by 4.0% during the third quarter. OLD National Bancorp IN now owns 8,415 shares of the financial services provider's stock valued at $265,000 after purchasing an additional 325 shares in the last quarter. Versant Capital Management Inc grew its position in Lincoln National by 20.2% in the fourth quarter. Versant Capital Management Inc now owns 2,104 shares of the financial services provider's stock worth $67,000 after acquiring an additional 354 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Lincoln National by 6.2% during the 3rd quarter. Brookstone Capital Management now owns 6,808 shares of the financial services provider's stock valued at $215,000 after purchasing an additional 397 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Lincoln National by 13.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,502 shares of the financial services provider's stock valued at $110,000 after purchasing an additional 411 shares during the last quarter. Finally, Quarry LP boosted its holdings in Lincoln National by 23.2% in the third quarter. Quarry LP now owns 2,793 shares of the financial services provider's stock worth $88,000 after purchasing an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Company Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.