Lincoln National Corp. (LNC) CEO Dennis R. Glass Sells 349,532 Shares of Stock
Lincoln National Corp. (NYSE:LNC) CEO Dennis R. Glass sold 349,532 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $52.01, for a total transaction of $18,179,159.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Lincoln National Corp. (NYSE:LNC) opened at 57.51 on Thursday. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 10.87 and a beta of 1.99. The company’s 50 day moving average is $48.79 and its 200 day moving average is $45.14. Lincoln National Corp. has a 52-week low of $30.39 and a 52-week high of $58.00.
Lincoln National Corp. (NYSE:LNC) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.61 by $0.28. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.43 billion. Lincoln National Corp. had a net margin of 9.63% and a return on equity of 9.89%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Analysts anticipate that Lincoln National Corp. will post $6.30 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, January 6th. This represents a $1.16 annualized dividend and a dividend yield of 2.02%. This is a positive change from Lincoln National Corp.’s previous quarterly dividend of $0.25. Lincoln National Corp.’s payout ratio is 18.83%.
Several equities analysts have recently issued reports on LNC shares. FBR & Co lowered shares of Lincoln National Corp. from an “outperform” rating to a “market perform” rating and set a $55.00 price target for the company. in a report on Wednesday. Wells Fargo & Co. assumed coverage on shares of Lincoln National Corp. in a research note on Friday, September 23rd. They issued a “market perform” rating for the company. Credit Suisse Group AG assumed coverage on shares of Lincoln National Corp. in a research note on Friday, October 7th. They issued a “neutral” rating and a $57.00 target price for the company. Goldman Sachs Group Inc. lowered shares of Lincoln National Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $51.00 to $46.00 in a research note on Friday, July 15th. Finally, Zacks Investment Research lowered shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lincoln National Corp. has a consensus rating of “Hold” and a consensus price target of $51.92.
Several hedge funds have recently bought and sold shares of the stock. Capital Analysts LLC raised its stake in Lincoln National Corp. by 54.4% in the second quarter. Capital Analysts LLC now owns 1,685 shares of the company’s stock valued at $106,000 after buying an additional 594 shares during the period. Global X Management Co. LLC raised its stake in Lincoln National Corp. by 98.6% in the third quarter. Global X Management Co. LLC now owns 2,324 shares of the company’s stock worth $109,000 after buying an additional 1,154 shares during the period. Barnett & Company Inc. purchased a new stake in Lincoln National Corp. during the first quarter worth $104,000. North Star Investment Management Corp. purchased a new stake in Lincoln National Corp. during the second quarter worth $127,000. Finally, Societe Generale purchased a new stake in Lincoln National Corp. during the second quarter worth $132,000. 78.32% of the stock is currently owned by institutional investors.
About Lincoln National Corp.
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. It operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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