Lincoln National Corp. (LNC) Director George W. Henderson III Sells 16,599 Shares
Lincoln National Corp. (NYSE:LNC) Director George W. Henderson III sold 16,599 shares of Lincoln National Corp. stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $63.68, for a total value of $1,057,024.32. Following the completion of the transaction, the director now owns 26,235 shares of the company’s stock, valued at approximately $1,670,644.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Lincoln National Corp. (NYSE:LNC) traded up 0.73% on Tuesday, hitting $63.65. The stock had a trading volume of 1,505,692 shares. The company’s 50 day moving average price is $52.17 and its 200-day moving average price is $46.20. The company has a market cap of $14.55 billion, a price-to-earnings ratio of 12.03 and a beta of 1.99. Lincoln National Corp. has a 12-month low of $30.39 and a 12-month high of $63.95.
Lincoln National Corp. (NYSE:LNC) last issued its earnings results on Thursday, November 3rd. The company reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 company earned $3.53 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The company’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts anticipate that Lincoln National Corp. will post $6.35 EPS for the current year.
The firm also recently declared 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. The ex-dividend date of this dividend is Friday, January 6th. This represents a $1.16 dividend on an annualized basis and a yield of 1.82%. 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%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Lincoln National Corp. from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Monday. FBR & Co cut Lincoln National Corp. from an “outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research note on Wednesday, November 9th. Credit Suisse Group AG assumed coverage on Lincoln National Corp. in a research note on Friday, October 7th. They issued a “neutral” rating and a $57.00 price objective for the company. Finally, Wells Fargo & Co. assumed coverage on Lincoln National Corp. in a research note on Friday, September 23rd. They issued a “market perform” rating for the company. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Lincoln National Corp. currently has an average rating of “Hold” and an average price target of $52.83.
Hedge funds and other institutional investors have recently modified their holdings of the stock. ETRADE Capital Management LLC increased its position in shares of Lincoln National Corp. by 53.7% in the third quarter. ETRADE Capital Management LLC now owns 12,978 shares of the company’s stock worth $610,000 after buying an additional 4,532 shares in the last quarter. Scout Investments Inc. acquired a new position in shares of Lincoln National Corp. during the third quarter worth approximately $26,758,000. LPL Financial LLC increased its position in shares of Lincoln National Corp. by 1.2% in the third quarter. LPL Financial LLC now owns 19,441 shares of the company’s stock worth $929,000 after buying an additional 233 shares in the last quarter. Credit Suisse AG increased its position in shares of Lincoln National Corp. by 98.9% in the third quarter. Credit Suisse AG now owns 763,780 shares of the company’s stock worth $35,882,000 after buying an additional 379,799 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Lincoln National Corp. by 389.2% in the third quarter. Ameritas Investment Partners Inc. now owns 6,995 shares of the company’s stock worth $328,000 after buying an additional 5,565 shares in the last quarter. 77.66% of the stock is owned by hedge funds and other institutional investors.
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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