Isaiah Tidwell Sells 10,728 Shares of Lincoln National Corp. (LNC) Stock
Lincoln National Corp. (NYSE:LNC) Director Isaiah Tidwell sold 10,728 shares of the stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $61.91, for a total value of $664,170.48. Following the transaction, the director now owns 5,887 shares of the company’s stock, valued at $364,464.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of Lincoln National Corp. (NYSE:LNC) opened at 62.24 on Monday. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $63.08. The company’s 50-day moving average price is $49.50 and its 200 day moving average price is $45.36. The firm has a market capitalization of $14.23 billion, a PE ratio of 11.76 and a beta of 1.99.
Lincoln National Corp. (NYSE:LNC) last posted its quarterly 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 return on equity of 9.89% and a net margin of 9.63%. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the prior year, the business earned $1.65 EPS. The firm’s revenue for the quarter 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 year.
The company also recently declared 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 is an increase from Lincoln National Corp.’s previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Friday, January 6th. Lincoln National Corp.’s dividend payout ratio is 18.83%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. AGF Investments Inc. increased its position in Lincoln National Corp. by 19.6% in the second quarter. AGF Investments Inc. now owns 573,701 shares of the company’s stock worth $22,238,000 after buying an additional 94,025 shares during the period. Affinity Investment Advisors LLC increased its position in Lincoln National Corp. by 21.1% in the second quarter. Affinity Investment Advisors LLC now owns 501,869 shares of the company’s stock worth $19,457,000 after buying an additional 87,274 shares during the period. Exxonmobil Investment Management Inc. TX increased its position 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 during the period. Sanders Capital LLC increased its position in Lincoln National Corp. by 0.6% in the second quarter. Sanders Capital LLC now owns 1,012,778 shares of the company’s stock worth $39,265,000 after buying an additional 5,932 shares during the period. Finally, Royal Bank of Canada increased its position in Lincoln National Corp. by 18.7% in the first quarter. Royal Bank of Canada now owns 974,322 shares of the company’s stock worth $38,194,000 after buying an additional 153,317 shares during the period. 77.66% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on LNC shares. Wells Fargo & Co. started coverage on Lincoln National Corp. in a report on Friday, September 23rd. They set a “market perform” rating for the company. Zacks Investment Research downgraded Lincoln National Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Credit Suisse Group AG initiated coverage on 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. Finally, FBR & Co raised their price target on Lincoln National Corp. from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Tuesday, October 18th. Ten investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.92.
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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