Lincoln National CAO Sells $908,045 in Stock (LNC)
Lincoln National (NYSE:LNC) CAO Douglas N. Miller unloaded 16,320 shares of Lincoln National stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $55.64, for a total transaction of $908,044.80. Following the sale, the chief accounting officer now directly owns 9,093 shares of the company’s stock, valued at approximately $505,935. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Lincoln National (NYSE:LNC) traded up 0.47% on Tuesday, hitting $55.30. 2,759,450 shares of the company’s stock traded hands. Lincoln National has a 1-year low of $40.84 and a 1-year high of $55.16. The stock has a 50-day moving average of $52.56 and a 200-day moving average of $50.67. The company has a market cap of $14.437 billion and a price-to-earnings ratio of 10.58.
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. 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. Investors 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 1.16%. The ex-dividend date of this dividend 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 equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus 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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