Keefe Bruyette & Woods Has $31 Price Target On Lincoln National (LNC)

Keefe Bruyette & Woods has a $31 price target and an Outperform rating on Lincoln National LNC. In a note to clients, KBW writes, "Last Thursday LNC announced a $125 million share repurchase plan and its intention to redeem $150 million of trust preferred securities. Although minor relative to $1.9 billion of excess capital, we view the resumption of capital management as a positive affirmation of management's outlook. Updating estimates." Shares of LNC lost $1.11 on Friday to close at $23.89, a loss of 4.4%.