Mark E. Konen Sells 50,000 Shares of Lincoln National Corporation (LNC) Stock
Lincoln National Corporation (NYSE:LNC) insider Mark E. Konen sold 50,000 shares of the business’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $71.65, for a total value of $3,582,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of Lincoln National Corporation (NYSE:LNC) opened at 72.66 on Friday. Lincoln National Corporation has a 12 month low of $34.16 and a 12 month high of $73.31. The stock has a market capitalization of $16.44 billion, a P/E ratio of 14.45 and a beta of 2.10. The stock has a 50 day moving average price of $68.35 and a 200 day moving average price of $56.76.
Lincoln National Corporation (NYSE:LNC) last issued its quarterly earnings results on Wednesday, February 1st. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.06. Lincoln National Corporation had a return on equity of 9.93% and a net margin of 8.88%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the firm earned $1.54 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts anticipate that Lincoln National Corporation will post $6.98 EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of LNC. Advantage Investment Management LLC purchased a new position in shares of Lincoln National Corporation during the fourth quarter valued at about $120,000. IFM Investors Pty Ltd purchased a new position in shares of Lincoln National Corporation during the fourth quarter valued at about $243,000. Independent Advisor Alliance purchased a new position in shares of Lincoln National Corporation during the fourth quarter valued at about $453,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Lincoln National Corporation by 14.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 689,732 shares of the company’s stock valued at $45,709,000 after buying an additional 87,912 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Lincoln National Corporation during the fourth quarter valued at about $852,000. Institutional investors own 78.34% of the company’s stock.
A number of analysts have commented on LNC shares. Citigroup Inc. started coverage on Lincoln National Corporation in a research report on Thursday, January 26th. They set a “buy” rating and a $77.00 target price on the stock. Zacks Investment Research upgraded Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Tuesday, January 10th. Deutsche Bank AG boosted their target price on Lincoln National Corporation from $66.00 to $69.00 and gave the stock a “hold” rating in a research report on Monday, January 23rd. Royal Bank Of Canada boosted their target price on Lincoln National Corporation from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $71.00 target price on shares of Lincoln National Corporation in a research report on Wednesday, December 14th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Lincoln National Corporation has an average rating of “Hold” and an average price target of $67.00.
Lincoln National Corporation 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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