Lincoln National Co. (NYSE:LNC) Director Michael F. Mee sold 13,574 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $68.62, for a total transaction of $931,447.88. Following the transaction, the director now owns 6,336 shares in the company, valued at $434,776.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lincoln National Co. (NYSE:LNC) opened at 67.86 on Friday. Lincoln National Co. has a 12 month low of $35.27 and a 12 month high of $73.31. The firm’s 50-day moving average is $65.45 and its 200 day moving average is $65.34. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 11.13 and a beta of 2.10.
Lincoln National (NYSE:LNC) last released its quarterly earnings results on Wednesday, May 3rd. The financial services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.30. Lincoln National had a net margin of 8.88% and a return on equity of 9.93%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm earned $1.25 EPS. Lincoln National’s revenue was up 7.9% on a year-over-year basis. Equities analysts predict that Lincoln National Co. will post $7.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, April 10th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, April 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.71%. Lincoln National’s dividend payout ratio (DPR) is 23.25%.
LNC has been the topic of a number of recent analyst reports. Bank of America Corp upgraded shares of Lincoln National from a “neutral” rating to a “buy” rating and set a $78.00 price target on the stock in a research note on Thursday, April 6th. They noted that the move was a valuation call. Citigroup Inc initiated coverage on shares of Lincoln National in a research note on Thursday, January 26th. They set a “buy” rating and a $77.00 price target on the stock. Wells Fargo & Co reiterated a “hold” rating on shares of Lincoln National in a research note on Thursday, May 4th. Deutsche Bank AG boosted their price target on shares of Lincoln National from $66.00 to $69.00 and gave the stock a “hold” rating in a research note on Monday, January 23rd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $75.00 price target on shares of Lincoln National in a research note on Tuesday, March 21st. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Lincoln National has a consensus rating of “Buy” and an average price target of $67.75.
Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Lincoln National by 7.6% in the fourth quarter. State Street Corp now owns 11,331,398 shares of the financial services provider’s stock valued at $750,942,000 after buying an additional 803,941 shares in the last quarter. Norges Bank acquired a new position in shares of Lincoln National during the fourth quarter valued at about $406,668,000. LSV Asset Management boosted its position in shares of 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 valued at $235,624,000 after buying an additional 16,000 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Lincoln National by 16.7% in the first quarter. Neuberger Berman Group LLC now owns 4,483,836 shares of the financial services provider’s stock valued at $293,467,000 after buying an additional 640,510 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Lincoln National by 14.8% in the fourth quarter. AQR Capital Management LLC now owns 3,346,501 shares of the financial services provider’s stock valued at $221,773,000 after buying an additional 431,261 shares in the last quarter. Institutional investors own 78.34% of the company’s stock.
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.