Lincoln National Co. (LNC) Director Michael F. Mee Sells 13,574 Shares
Lincoln National Co. (NYSE:LNC) Director Michael F. Mee sold 13,574 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $68.62, for a total value of $931,447.88. Following the transaction, the director now owns 6,336 shares of the company’s stock, valued at $434,776.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Lincoln National Co. (NYSE:LNC) traded up 0.15% during midday trading on Wednesday, reaching $68.71. The company’s stock had a trading volume of 1,512,517 shares. The stock has a 50-day moving average price of $65.26 and a 200-day moving average price of $65.17. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 11.27 and a beta of 2.10. Lincoln National Co. has a 52-week low of $35.27 and a 52-week high of $73.31.
Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $1.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.30. Lincoln National had a return on equity of 9.93% and a net margin of 8.88%. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Lincoln National Co. will post $7.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Investors of record on Monday, April 10th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, April 6th. Lincoln National’s dividend payout ratio (DPR) is presently 23.25%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Palladium Partners LLC raised its position in Lincoln National by 7.5% in the third quarter. Palladium Partners LLC now owns 154,436 shares of the financial services provider’s stock worth $7,256,000 after buying an additional 10,745 shares during the period. LSV Asset Management raised its position in Lincoln National by 0.3% in the third quarter. LSV Asset Management now owns 5,015,432 shares of the financial services provider’s stock worth $235,624,000 after buying an additional 16,000 shares during the period. Wealthsource Partners LLC raised its position in Lincoln National by 18.4% in the third quarter. Wealthsource Partners LLC now owns 10,796 shares of the financial services provider’s stock worth $507,000 after buying an additional 1,681 shares during the period. Balasa Dinverno & Foltz LLC bought a new position in Lincoln National during the third quarter worth $214,000. Finally, Boys Arnold & Co. Inc. bought a new position in Lincoln National during the third quarter worth $210,000. 78.34% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on the company. Wells Fargo & Co reiterated a “hold” rating on shares of Lincoln National in a report on Thursday, May 4th. Deutsche Bank AG lifted their target price on Lincoln National from $66.00 to $69.00 and gave the stock a “hold” rating in a report on Monday, January 23rd. Royal Bank of Canada lifted their target price on Lincoln National from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Citigroup Inc assumed coverage on Lincoln National in a report on Thursday, January 26th. They issued a “buy” rating and a $77.00 target price for the company. Finally, Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Tuesday, January 10th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $67.75.
Lincoln National Company Profile
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. The Company operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses on the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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