Insider Selling: Lincoln National Director Unloads 8,179 Shares of Stock (LNC)
Lincoln National (NYSE:LNC) Director William H. Dr Cunningham unloaded 8,179 shares of the company’s stock on the open market in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $53.48, for a total value of $437,412.92. Following the transaction, the director now directly owns 13,822 shares in the company, valued at approximately $739,201. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on LNC shares. 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 investment analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.71.
Shares of Lincoln National (NYSE:LNC) traded up 0.26% on Thursday, hitting $53.47. The stock had a trading volume of 537,300 shares. Lincoln National has a 1-year low of $40.84 and a 1-year high of $53.86. The stock’s 50-day moving average is $52.16 and its 200-day moving average is $50.35. The company has a market cap of $13.960 billion and a P/E ratio of 10.25.
Lincoln National (NYSE:LNC) last announced its 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. 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 1.20%. 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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