Lincoln National Insider Mark E. Konen Sells 8,000 Shares (LNC)
Lincoln National (NYSE:LNC) Insider Mark E. Konen sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $51.90, for a total transaction of $415,200.00. Following the transaction, the insider now directly owns 77,961 shares in the company, valued at approximately $4,046,176. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
LNC has been the subject of a number of recent research reports. Analysts at Raymond James reiterated a “strong-buy” rating on shares of Lincoln National in a research note on Monday, August 4th. They now have a $61.50 price target on the stock, down previously from $63.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Lincoln National in a research note on Thursday, July 31st. They now have a $56.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Lincoln National from $49.00 to $52.00 in a research note on Thursday, July 31st. They now have an “underperform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Lincoln National currently has an average rating of “Hold” and a consensus price target of $57.71.
Lincoln National (NYSE:LNC) traded up 2.31% on Monday, hitting $52.62. 1,745,484 shares of the company’s stock traded hands. Lincoln National has a one year low of $40.84 and a one year high of $53.86. The stock’s 50-day moving average is $52.05 and its 200-day moving average is $50.22. The company has a market cap of $13.738 billion and a P/E ratio of 9.88.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.37 by $0.10. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the company posted $1.27 earnings per share. Lincoln National’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that Lincoln National will post $5.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, November 1st. Investors of record on Friday, October 10th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, October 8th.
Lincoln National Corporation (NYSE:LNC) is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies.
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