Lincoln National EVP Unloads $385,070 in Stock (LNC)
Lincoln National (NYSE:LNC) EVP Adam G. Ciongoli sold 7,000 shares of the company’s stock on the open market in a transaction dated Friday, August 29th. The shares were sold at an average price of $55.01, for a total transaction of $385,070.00. Following the completion of the sale, the executive vice president now directly owns 78,650 shares of the company’s stock, valued at approximately $4,326,537. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 issued a buy rating and one has given a strong buy rating to the stock. Lincoln National currently has a consensus rating of “Hold” and an average target price of $57.71.
Lincoln National (NYSE:LNC) traded up 0.69% during mid-day trading on Tuesday, hitting $55.42. The stock had a trading volume of 1,066,258 shares. Lincoln National has a one year low of $40.84 and a one 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 $14.469 billion and a P/E ratio of 10.58.
Lincoln National (NYSE:LNC) last announced its earnings results 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 announced a quarterly dividend, which is scheduled for Saturday, November 1st. Stockholders 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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