Lincoln National Director Patrick S. Pittard Unloads 8,179 Shares (LNC)
Lincoln National (NYSE:LNC) Director Patrick S. Pittard unloaded 8,179 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $54.26, for a total value of $443,792.54. Following the completion of the transaction, the director now directly owns 20,674 shares of the company’s stock, valued at approximately $1,121,771. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
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 analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $57.71.
Lincoln National (NYSE:LNC) traded up 0.67% during mid-day trading on Tuesday, hitting $55.41. The stock had a trading volume of 1,065,275 shares. Lincoln National has a 52-week low of $40.84 and a 52-week high of $55.16. The stock’s 50-day moving average is $52.56 and its 200-day moving average is $50.67. The company has a market cap of $14.466 billion and a price-to-earnings ratio of 10.58.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data 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 announced a quarterly dividend, which is scheduled for Saturday, November 1st. Shareholders 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 1.16%. 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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