Lincoln National Co. (NYSE:LNC) EVP Jamie Ohl sold 2,152 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $58.00, for a total value of $124,816.00. Following the transaction, the executive vice president now directly owns 12,732 shares in the company, valued at $738,456. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
LNC traded down $1.22 during midday trading on Friday, reaching $56.48. 839,458 shares of the company were exchanged, compared to its average volume of 1,588,356. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market capitalization of $12.71 billion, a P/E ratio of 7.25 and a beta of 1.87. Lincoln National Co. has a one year low of $56.37 and a one year high of $86.68.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.17. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.25 billion. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.87 EPS. On average, equities analysts forecast that Lincoln National Co. will post 8.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be issued a dividend of $0.37 per share. This is a positive change from Lincoln National’s previous quarterly dividend of $0.33. This represents a $1.48 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, January 9th. Lincoln National’s payout ratio is currently 16.94%.
A number of research firms recently weighed in on LNC. Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Monday, October 8th. UBS Group upped their price target on Lincoln National from $73.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, October 8th. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 22nd. Credit Suisse Group dropped their price target on Lincoln National from $74.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. Finally, Morgan Stanley dropped their price target on Lincoln National from $76.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $76.69.
A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of Lincoln National by 59.7% in the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock valued at $806,475,000 after acquiring an additional 4,457,743 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in shares of Lincoln National by 22,593.4% in the third quarter. Levin Capital Strategies L.P. now owns 907,735 shares of the financial services provider’s stock valued at $61,417,000 after acquiring an additional 903,735 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Lincoln National by 89.9% in the second quarter. Millennium Management LLC now owns 1,646,582 shares of the financial services provider’s stock valued at $102,500,000 after acquiring an additional 779,470 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Lincoln National by 3.2% in the second quarter. BlackRock Inc. now owns 19,580,560 shares of the financial services provider’s stock valued at $1,218,887,000 after acquiring an additional 610,043 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Lincoln National by 1,669.8% in the second quarter. Renaissance Technologies LLC now owns 641,974 shares of the financial services provider’s stock valued at $39,963,000 after acquiring an additional 605,700 shares in the last quarter. 80.85% of the stock is owned by hedge funds and other institutional investors.
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Lincoln National Company Profile
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.
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