ValuEngine Lowers Lincoln National (LNC) to Strong Sell

Lincoln National (NYSE:LNC) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Monday.

Several other analysts also recently issued reports on LNC. Zacks Investment Research downgraded shares of Lincoln National from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Bank of America assumed coverage on shares of Lincoln National in a research note on Monday, March 26th. They issued a “buy” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. set a $87.00 price target on shares of Lincoln National and gave the stock a “buy” rating in a research note on Monday, April 2nd. Wells Fargo & Co set a $80.00 price target on shares of Lincoln National and gave the stock a “hold” rating in a research note on Tuesday, April 3rd. Finally, Credit Suisse Group assumed coverage on shares of Lincoln National in a research note on Wednesday, April 25th. They issued a “neutral” rating and a $74.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $82.77.

Shares of NYSE:LNC opened at $63.01 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.11 and a current ratio of 0.11. Lincoln National has a 12-month low of $61.18 and a 12-month high of $86.68. The firm has a market cap of $13.61 billion, a price-to-earnings ratio of 8.09 and a beta of 1.95.

Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, May 2nd. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.03. Lincoln National had a net margin of 13.90% and a return on equity of 10.69%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same period in the previous year, the business earned $1.92 EPS. The company’s revenue was up 1.9% on a year-over-year basis. sell-side analysts forecast that Lincoln National will post 8.41 earnings per share for the current fiscal year.

In other Lincoln National news, Director Deirdre P. Connelly bought 1,000 shares of the stock in a transaction on Friday, May 4th. The shares were purchased at an average cost of $67.09 per share, with a total value of $67,090.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $67,090. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.12% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Lincoln National by 90.6% during the first quarter. JPMorgan Chase & Co. now owns 5,848,793 shares of the financial services provider’s stock worth $427,315,000 after buying an additional 2,779,947 shares during the last quarter. LSV Asset Management increased its position in Lincoln National by 1.8% during the first quarter. LSV Asset Management now owns 5,523,866 shares of the financial services provider’s stock worth $403,573,000 after buying an additional 96,991 shares during the last quarter. Lyrical Asset Management LP increased its position in Lincoln National by 2.5% during the fourth quarter. Lyrical Asset Management LP now owns 4,417,721 shares of the financial services provider’s stock worth $339,590,000 after buying an additional 109,845 shares during the last quarter. Neuberger Berman Group LLC increased its position in Lincoln National by 2.0% during the first quarter. Neuberger Berman Group LLC now owns 4,074,272 shares of the financial services provider’s stock worth $297,666,000 after buying an additional 80,452 shares during the last quarter. Finally, Viking Global Investors LP increased its position in Lincoln National by 119.3% during the fourth quarter. Viking Global Investors LP now owns 2,182,923 shares of the financial services provider’s stock worth $167,801,000 after buying an additional 1,187,323 shares during the last quarter. 80.40% of the stock is currently owned by hedge funds and other institutional investors.

About Lincoln National

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Lincoln National (NYSE:LNC)

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