Lincoln National Corp (LNC) Receives a Hold from Wells Fargo

Wells Fargo analyst Elyse Greenspan maintained a Hold rating on Lincoln National Corp (LNCResearch Report) yesterday and set a price target of $69. The company’s shares closed yesterday at $62.95.

Greenspan said:

“We attended LNC’s Investor Day today in NYC. LNC used the meeting to reiterate its 8-10% EPS growth outlook (including 7- 9% growth in Group, 4-6% in Life, 8-10% in Retirement, and 6-8% in Annuities) and lay out long-term growth drivers for its businesses. See Figures 1-2 inside for the growth outlook given today as compared to LNC’s last investor day in 2017. Over the long-term, LNC sees its spread compression abating, while in the short-term spread compression will be offset by expense savings from the Liberty transaction and other initiatives within the company. We are not changing our EPS estimates or price target at this time and expect the LNC shares to be largely unchanged by the investor day.”

According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 6.0% and a 65.9% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and AXA Equitable Holdings Inc.

Lincoln National Corp has an analyst consensus of Moderate Buy, with a price target consensus of $74.71.

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Based on Lincoln National Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.97 billion and net profit of $252 million. In comparison, last year the company earned revenue of $3.57 billion and had a net profit of $367 million.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.

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Lincoln National Corp. is a holding company, which operates multiple insurance and retirement businesses through its subsidiary companies. It provides advice and solutions that help empower people to take charge of their financial lives with confidence and optimism.

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