Insider Selling: Lincoln National Insider Sells 38,171 Shares of Stock (LNC)
Lincoln National (NYSE:LNC) Insider Charles C. Cornelio unloaded 38,171 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $52.80, for a total value of $2,015,428.80. Following the sale, the insider now directly owns 115,613 shares of the company’s stock, valued at approximately $6,104,366. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Lincoln National (NYSE:LNC) traded up 0.42% on Tuesday, hitting $52.84. 1,727,659 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 has a 50-day moving average of $52.08 and a 200-day moving average of $50.28. The company has a market cap of $13.795 billion and a P/E ratio of 10.11.
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. Analysts expect that Lincoln National will post $5.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, November 1st. Shareholders 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 1.22%. The ex-dividend date of this dividend is Wednesday, October 8th.
Several analysts have recently commented on the stock. 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.71.
Lincoln National Corporation (NYSE:LNC) is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.