Lincoln National (NYSE:LNC) Price Target Cut to $36.00 by Analysts at Citigroup

Lincoln National (NYSE:LNCGet Rating) had its target price lowered by Citigroup from $53.00 to $36.00 in a research note published on Wednesday morning, The Fly reports.

Other research analysts have also issued reports about the stock. Royal Bank of Canada dropped their price target on shares of Lincoln National from $54.00 to $40.00 in a research report on Friday, November 4th. Piper Sandler downgraded Lincoln National from an overweight rating to a neutral rating and cut their target price for the stock from $55.00 to $38.00 in a research note on Thursday, November 3rd. TheStreet downgraded Lincoln National from a b- rating to a d+ rating in a research report on Wednesday, November 2nd. Barclays cut their price objective on Lincoln National from $47.00 to $36.00 and set an equal weight rating on the stock in a research report on Sunday, November 6th. Finally, Morgan Stanley lowered Lincoln National from an overweight rating to an equal weight rating and decreased their target price for the company from $68.00 to $54.00 in a research report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $46.25.

Lincoln National Trading Up 4.4 %

Shares of Lincoln National stock opened at $37.73 on Wednesday. The company has a market capitalization of $6.38 billion, a P/E ratio of -3.13 and a beta of 1.84. The stock has a fifty day simple moving average of $45.20 and a 200 day simple moving average of $48.67. Lincoln National has a 12-month low of $32.59 and a 12-month high of $76.40. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 2.69.

Lincoln National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, January 9th. This represents a $1.80 dividend on an annualized basis and a yield of 4.77%. Lincoln National’s dividend payout ratio is -14.94%.

Institutional Investors Weigh In On Lincoln National

Several institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC grew its holdings in Lincoln National by 14.7% during the 1st quarter. Park Avenue Securities LLC now owns 4,861 shares of the financial services provider’s stock valued at $318,000 after buying an additional 624 shares in the last quarter. Regentatlantic Capital LLC grew its stake in Lincoln National by 4.8% during the first quarter. Regentatlantic Capital LLC now owns 5,836 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 269 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Lincoln National by 42.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,090 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 326 shares during the period. DAVENPORT & Co LLC lifted its stake in Lincoln National by 4.9% in the 1st quarter. DAVENPORT & Co LLC now owns 6,187 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 289 shares in the last quarter. Finally, Waldron Private Wealth LLC boosted its holdings in Lincoln National by 4.7% in the 1st quarter. Waldron Private Wealth LLC now owns 5,182 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 233 shares during the period. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Lincoln National Company Profile

(Get Rating)

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 Annuities segment offers fixed, variable, and indexed variable annuities.

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