Lincoln National (NYSE:LNC) Price Target Raised to $34.00 at JPMorgan Chase & Co.

Lincoln National (NYSE:LNC) had its target price upped by equities researchers at JPMorgan Chase & Co. from $28.00 to $34.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 7.94% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Keefe, Bruyette & Woods raised their price objective on Lincoln National from $30.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI raised their price target on Lincoln National from $33.00 to $35.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Piper Sandler raised their price target on Lincoln National from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Wells Fargo & Company dropped their price target on Lincoln National from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Finally, StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Lincoln National has a consensus rating of “Hold” and a consensus target price of $31.20.

Lincoln National Stock Performance

NYSE LNC opened at $31.50 on Tuesday. Lincoln National has a 1-year low of $20.85 and a 1-year high of $33.33. The company has a market capitalization of $5.36 billion, a P/E ratio of 4.31, a PEG ratio of 0.24 and a beta of 1.84. The business has a 50 day moving average price of $30.77 and a 200 day moving average price of $28.92. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.26 and a quick ratio of 0.26.

Lincoln National (NYSE:LNC) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.27. Lincoln National had a return on equity of 19.50% and a net margin of 11.31%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.64 billion. Sell-side analysts expect that Lincoln National will post 5.98 EPS for the current fiscal year.

Insider Transactions at Lincoln National

In other news, EVP Sean Woodroffe sold 55,127 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $32.57, for a total transaction of $1,795,486.39. Following the sale, the executive vice president now owns 198,255 shares in the company, valued at $6,457,165.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Lincoln National in the first quarter valued at $25,000. Financial Gravity Asset Management Inc. boosted its holdings in Lincoln National by 3,930.8% in the third quarter. Financial Gravity Asset Management Inc. now owns 1,048 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 1,022 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Lincoln National in the fourth quarter valued at $27,000. Transcendent Capital Group LLC acquired a new position in Lincoln National in the fourth quarter valued at $35,000. Finally, CVA Family Office LLC acquired a new position in Lincoln National in the fourth quarter valued at $37,000. Institutional investors and hedge funds 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.