Lincoln National Insider Mark E. Konen Unloads 8,000 Shares (LNC)
Lincoln National (NYSE:LNC) Insider Mark E. Konen sold 8,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $51.90, for a total transaction of $415,200.00. Following the completion of the sale, the insider now directly owns 77,961 shares in the company, valued at approximately $4,046,176. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Lincoln National (NYSE:LNC) traded up 1.06% during mid-day trading on Wednesday, hitting $53.40. 861,624 shares of the company’s stock traded hands. Lincoln National has a 52 week low of $40.84 and a 52 week high of $53.86. The stock’s 50-day moving average is $52.10 and its 200-day moving average is $50.31. The company has a market cap of $13.941 billion and a P/E ratio of 10.16.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.47 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.27 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts expect that Lincoln National will post $5.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Saturday, November 1st. Investors of record on Friday, October 10th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Wednesday, October 8th.
A number of research firms have recently commented on LNC. 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 issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $57.71.
Lincoln National Corporation (NYSE:LNC) is a holding company, which operates multiple insurance and retirement businesses through subsidiary companies.
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