On Friday, Piper Sandler made a revision to its price target on shares of Lincoln National, listed on the New York Stock Exchange under the ticker NYSE:LNC. The firm increased the price target to $32.00 from the previous $28.00. Alongside this adjustment, the investment banking firm maintained a Neutral rating on the stock.
The decision to keep a Neutral rating indicates that Piper Sandler's outlook on Lincoln National's stock remains unchanged. A Neutral rating typically suggests that the analysts believe the stock will perform in line with the market or sector averages, or that the potential rewards of investing in the stock are balanced with the potential risks.
Lincoln National Corporation (NYSE:LNC), through its subsidiaries, operates multiple insurance and retirement businesses in the United States. The company is known for providing various life insurance and annuity products, which cater to a diverse clientele, including individuals and institutional customers.
The updated price target from Piper Sandler comes as investors and stakeholders in Lincoln National continue to monitor the company's performance in the context of the broader financial services industry. Price target changes can influence investor sentiment and can lead to changes in stock trading behavior.
InvestingPro Insights
In light of Piper Sandler's recent price target update for Lincoln National (NYSE:LNC), prospective and current investors might find the following insights from InvestingPro valuable. Lincoln National boasts a high shareholder yield, which is a positive sign for investors looking for returns through dividends and share repurchases. Additionally, analysts predict that the company will be profitable this year, offering a potential upside despite recent profitability challenges.
From the real-time data available on InvestingPro, Lincoln National has a market capitalization of $5.21 billion and is maintaining a notable dividend yield of 5.86% as of the latest data, reflecting a commitment to shareholder returns. The company has also experienced a substantial price uptick over the last six months, with a total return of 36.9%, outpacing many peers in the financial sector.
For those considering an investment in Lincoln National, there are 12 additional InvestingPro Tips available, which could further inform your decision-making process. To explore these insights, consider visiting https://www.investing.com/pro/LNC and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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