Analysts are Downgrading These 5 Stocks

In this article, we discuss the 5 stocks recently downgraded by analysts. If you want to see some more companies on the list, go directly to Analysts are Downgrading These 10 Stocks.

5. Lincoln National Corporation (NYSE:LNC)

Number of Hedge Fund Holders: 34

Morgan Stanley downgraded Lincoln National Corporation (NYSE:LNC) from “Overweight” to “Equal-Weight” on Thursday, November 3, after the health insurer swung to a loss in the third quarter.

Lincoln National Corporation (NYSE:LNC) recently reported an adjusted loss of $10.23 per share for Q3, compared to adjusted earnings of $1.62 per share in the same period last year. Revenue for the quarter fell 8.4 percent on a year-over-year basis to $4.8 billion. Analysts were looking for earnings of $1.79 per share on revenue of $4.39 billion. Lincoln National shares plummeted to a nearly two-year low on Thursday following the results.

Speaking on the results, CEO of Lincoln National Corporation (NYSE:LNC), Ellen Cooper, said in a statement:

“The significant charge we recorded during the third quarter and the statutory capital impact to be booked at the end of 2022 resulted from our annual assumption review primarily due to policyholder lapsation behavior in our guaranteed universal life insurance block and will contribute to a decline in our RBC ratio.”