Shares of Lincoln National Corporation (NYSE: LNC) have received a consensus recommendation of “Hold” from brokers covering the firm, according to a report by MarketBeat. This assessment comes from a total of fifteen analysts, with two recommending a sell, nine advising a hold, and four suggesting a buy.
The average target price over the next year among these analysts is set at $46.25. Several research firms have recently issued updates on the stock. For instance, on December 15, 2023, Jefferies Financial Group raised its target price for Lincoln National from $52.00 to $59.00 and assigned a “buy” rating. Similarly, Wells Fargo & Company increased its price objective from $39.00 to $41.00 on January 13, 2024, while maintaining an “equal weight” rating.
In a report released shortly after, Mizuho began coverage of Lincoln National, assigning an “outperform” rating and a target price of $52.00. Furthermore, Weiss Ratings reiterated a “buy (B-)” rating on December 29, 2023. Keefe, Bruyette & Woods also raised its price target from $43.00 to $44.00, designating a “market perform” rating on November 3, 2023.
Institutional Investment Activity
Recent trading activity indicates significant interest from institutional investors. Baird Financial Group Inc. acquired a new position in Lincoln National valued at $241,000 during the first quarter of the year. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake by 30.9% during the same period, now holding 71,981 shares worth approximately $2.585 million after purchasing an additional 16,991 shares.
Empowered Funds LLC has significantly boosted its holdings in Lincoln National by 316.9%, now owning 59,115 shares valued at $2.123 million after acquiring 44,936 shares in the last quarter. Additionally, UBS AM, a distinct business unit of UBS Asset Management Americas LLC, increased its position by 5.0%, owning 623,322 shares valued at $22.383 million after buying 29,421 shares recently. Currently, institutional investors own approximately 72.81% of Lincoln National’s stock.
Recent Performance and Financial Metrics
On February 12, 2024, Lincoln National reported its latest quarterly earnings, revealing earnings per share (EPS) of $2.21, surpassing the consensus estimate of $1.86 by $0.35. The firm recorded a return on equity of 18.52% and a net margin of 6.46%. Revenue for the quarter reached $4.89 billion, slightly exceeding analyst expectations of $4.85 billion. However, this figure represented a year-over-year decline of 2.8%.
As of the latest trading session, Lincoln National’s stock opened at $40.90. The company has experienced a twelve-month low of $27.58 and a high of $46.82. Its market capitalization stands at $7.77 billion, with a price-to-earnings (P/E) ratio of 7.70 and a price-to-earnings-growth (PEG) ratio of 0.43.
Headquartered in Radnor, Pennsylvania, Lincoln National Corporation operates under the name Lincoln Financial Group. The company offers a range of financial services, including retirement plans, insurance, and wealth management solutions, catering to both individual and institutional clients. It is structured into various segments, such as Retirement Plan Services, Life Insurance, and Group Protection, to assist clients in planning their financial futures.
As analysts continue to evaluate Lincoln National’s performance, the company remains a focal point for investors seeking insights into the evolving financial landscape.
