Lincoln National Insider Charles C. Cornelio Sells 38,171 Shares (LNC)
Lincoln National (NYSE:LNC) Insider Charles C. Cornelio sold 38,171 shares of Lincoln National stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $52.80, for a total value of $2,015,428.80. Following the completion of the transaction, the insider now directly owns 115,613 shares in the company, valued at approximately $6,104,366. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 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 given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $57.71.
Lincoln National (NYSE:LNC) opened at 52.97 on Thursday. Lincoln National has a 1-year low of $40.84 and a 1-year high of $53.86. The stock has a 50-day moving average of $52.16 and a 200-day moving average of $50.35. The company has a market cap of $13.829 billion and a P/E ratio of 10.25.
Lincoln National (NYSE:LNC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $1.27 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. 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. Stockholders 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 of this dividend 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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