Lincoln National Corp. Insider Mark E. Konen Sells 3,000 Shares (LNC)
Lincoln National Corp. (NYSE:LNC) Insider Mark E. Konen unloaded 3,000 shares of Lincoln National Corp. stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $50.16, for a total transaction of $150,480.00. Following the completion of the sale, the insider now directly owns 53,251 shares of the company’s stock, valued at approximately $2,671,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Lincoln National Corp. (NYSE:LNC) traded down 1.26% during mid-day trading on Tuesday, hitting $50.13. 1,715,729 shares of the company’s stock traded hands. Lincoln National Corp. has a 1-year low of $27.82 and a 1-year high of $52.55. The stock’s 50-day moving average is $49.69 and its 200-day moving average is $47.15. The company has a market cap of $13.157 billion and a P/E ratio of 11.23.
Lincoln National Corp. (NYSE:LNC) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.26 by $0.14. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. On average, analysts predict that Lincoln National Corp. will post $5.39 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, May 1st. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Tuesday, April 8th.
LNC has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Lincoln National Corp. in a research note on Friday, February 7th. They now have a $50.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Lincoln National Corp. from $47.00 to $53.00 in a research note on Friday, February 7th. They now have a “sector perform” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Lincoln National Corp. from $48.00 to $55.00 in a research note on Tuesday, January 7th. They now have an “equal weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $46.06.
Lincoln National Corporation (NYSE:LNC) is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies.
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