Lincoln National Corp. (LNC) Insider Sells $3,766,226.22 in Stock
Lincoln National Corp. (NYSE:LNC) insider Wilford H. Fuller sold 63,694 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $59.13, for a total transaction of $3,766,226.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Lincoln National Corp. (NYSE:LNC) opened at 61.48 on Thursday. The company has a market capitalization of $14.05 billion, a PE ratio of 11.62 and a beta of 1.99. The stock has a 50 day moving average of $50.81 and a 200-day moving average of $45.75. Lincoln National Corp. has a one year low of $30.39 and a one year high of $62.86.
Lincoln National Corp. (NYSE:LNC) last announced 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. Lincoln National Corp. had a net margin of 9.63% and a return on equity of 9.89%. The business earned $3.53 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the firm earned $1.65 earnings per share. Lincoln National Corp.’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts forecast that Lincoln National Corp. will post $6.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.89%. 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 (DPR) is currently 18.83%.
A number of institutional investors have recently made changes to their positions in the company. Barnett & Company Inc. purchased a new position in shares of Lincoln National Corp. during the first quarter worth $104,000. Capital Analysts LLC increased 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 increased 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 valued at $109,000 after buying an additional 1,154 shares during the period. North Star Investment Management Corp. bought a new stake in Lincoln National Corp. during the second quarter valued at $127,000. Finally, Societe Generale bought a new stake in Lincoln National Corp. during the second quarter valued at $132,000. 78.31% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on LNC. FBR & Co boosted their price target on shares of Lincoln National Corp. from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Tuesday, October 18th. Wells Fargo & Co. began coverage on shares of Lincoln National Corp. in a report on Friday, September 23rd. They issued a “market perform” rating for the company. Credit Suisse Group AG began coverage on shares of Lincoln National Corp. in a report on Friday, October 7th. They issued a “neutral” rating and a $57.00 price target for the company. Finally, Zacks Investment Research lowered shares of Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.92.
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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