Randal J. Freitag Sells 15,966 Shares of Lincoln National Corp. (LNC) Stock
Lincoln National Corp. (NYSE:LNC) CFO Randal J. Freitag sold 15,966 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $59.19, for a total transaction of $945,027.54. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Lincoln National Corp. (NYSE:LNC) last released its earnings results on Thursday, November 3rd. The company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.28. The company earned $3.53 billion during the quarter, compared to the consensus estimate of $3.43 billion. Lincoln National Corp. had a return on equity of 9.89% and a net margin of 9.63%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.65 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, January 6th. This is an increase from Lincoln National Corp.’s previous quarterly dividend of $0.25. Lincoln National Corp.’s dividend payout ratio is currently 18.83%.
A number of equities analysts recently issued reports on the stock. FBR & Co downgraded 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 research note on Wednesday, November 9th. 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 price target for the company. Zacks Investment Research downgraded shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Lincoln National Corp. has a consensus rating of “Hold” and a consensus target price of $51.92.
A number of large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in Lincoln National Corp. by 212.2% in the second quarter. Creative Planning now owns 103,725 shares of the company’s stock worth $4,021,000 after buying an additional 70,503 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Lincoln National Corp. by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 204,813 shares of the company’s stock worth $7,940,000 after buying an additional 851 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in Lincoln National Corp. by 5.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 61,867 shares of the company’s stock worth $2,399,000 after buying an additional 3,200 shares in the last quarter. DNB Asset Management AS increased its stake in Lincoln National Corp. by 1.6% in the second quarter. DNB Asset Management AS now owns 26,050 shares of the company’s stock worth $1,010,000 after buying an additional 400 shares in the last quarter. Finally, Raymond James Trust N.A. increased its stake in Lincoln National Corp. by 6.7% in the second quarter. Raymond James Trust N.A. now owns 6,439 shares of the company’s stock worth $249,000 after buying an additional 404 shares in the last quarter. Institutional investors and hedge funds own 78.31% of the company’s stock.
Lincoln National Corp. Company Profile
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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