Lincoln National Director Unloads $447,637 in Stock (LNC)
Lincoln National (NYSE:LNC) Director William Porter Payne sold 8,179 shares of Lincoln National stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $54.73, for a total value of $447,636.67. Following the transaction, the director now directly owns 21,947 shares in the company, valued at approximately $1,201,159. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Lincoln National (NYSE:LNC) traded up 0.83% on Tuesday, hitting $54.75. The stock had a trading volume of 1,201,060 shares. Lincoln National has a 52-week low of $40.84 and a 52-week high of $54.70. The stock’s 50-day moving average is $52. and its 200-day moving average is $50.52. The company has a market cap of $14.294 billion and a price-to-earnings ratio of 10.44.
Lincoln National (NYSE:LNC) last released its 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. 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 1.17%. The ex-dividend date of this dividend is Wednesday, October 8th.
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 research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently 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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