Lincoln National Corporation (NYSE:LNC)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank Of Canada in a research report issued on Tuesday. They currently have a $83.00 target price on the financial services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 10.26% from the stock’s current price.
LNC has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Thursday, August 24th. Bank of America Corporation set a $78.00 target price on shares of Lincoln National Corporation in a research report on Tuesday, July 4th. Morgan Stanley increased their target price on shares of Lincoln National Corporation from $76.00 to $77.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Finally, BidaskClub lowered shares of Lincoln National Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $77.11.
Lincoln National Corporation (NYSE:LNC) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ 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%. Lincoln National Corporation’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.56 EPS.
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Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in Lincoln National Corporation by 32.0% during the second quarter. JPMorgan Chase & Co. now owns 3,537,245 shares of the financial services provider’s stock valued at $239,047,000 after buying an additional 857,436 shares in the last quarter. Todd Asset Management LLC lifted its stake in Lincoln National Corporation by 57.5% during the second quarter. Todd Asset Management LLC now owns 705,233 shares of the financial services provider’s stock valued at $47,659,000 after buying an additional 257,581 shares in the last quarter. Prudential Financial Inc. lifted its stake in Lincoln National Corporation by 42.2% during the second quarter. Prudential Financial Inc. now owns 961,078 shares of the financial services provider’s stock valued at $64,950,000 after buying an additional 285,168 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Lincoln National Corporation by 84.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 544,208 shares of the financial services provider’s stock valued at $36,777,000 after buying an additional 248,800 shares in the last quarter. Finally, CWM LLC purchased a new stake in Lincoln National Corporation during the second quarter valued at about $211,000. 79.85% of the stock is owned by institutional investors.
Lincoln National Corporation Company Profile
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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