Key Points
- Lincoln National EVP Craigt Beazer sold 30,000 shares on June 5 at an average price of $34.45, totaling about $1.03 million. After the sale, he still held 103,906 shares, cutting his ownership by 22.4%.
- The company reported better-than-expected quarterly earnings, posting $1.66 per share versus the $1.58 consensus estimate. Revenue came in at $4.87 billion, slightly below expectations, but was still up 13.1% from a year earlier.
- Lincoln National announced a quarterly dividend of $0.45 per share, payable August 3, for an annualized yield of 5.1%. Meanwhile, analysts remain cautious overall, with the stock carrying a consensus Hold rating and an average target price of $43.
Lincoln National Corporation (NYSE:LNC - Get Free Report) EVP Craigt Beazer sold 30,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the transaction, the executive vice president directly owned 103,906 shares of the company's stock, valued at approximately $3,579,561.70. This represents a 22.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lincoln National Price Performance
Shares of LNC stock opened at $35.07 on Tuesday. The firm has a market cap of $6.70 billion, a P/E ratio of 4.07, a P/E/G ratio of 2.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.25 and a quick ratio of 0.25. Lincoln National Corporation has a 1-year low of $31.69 and a 1-year high of $46.82. The firm has a fifty day moving average of $35.54 and a two-hundred day moving average of $38.67.
Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.93 billion. Lincoln National had a net margin of 9.17% and a return on equity of 18.07%. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $1.60 EPS. As a group, research analysts anticipate that Lincoln National Corporation will post 7.72 earnings per share for the current fiscal year.
Lincoln National Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Friday, July 10th. Lincoln National's dividend payout ratio (DPR) is currently 20.88%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of LNC. JPL Wealth Management LLC bought a new position in shares of Lincoln National in the 3rd quarter worth about $29,000. V Square Quantitative Management LLC bought a new position in shares of Lincoln National in the 4th quarter worth about $31,000. Transamerica Financial Advisors LLC bought a new position in shares of Lincoln National in the 4th quarter worth about $32,000. NBT Bank N A NY lifted its position in shares of Lincoln National by 2,051.1% in the 1st quarter. NBT Bank N A NY now owns 968 shares of the financial services provider's stock worth $34,000 after buying an additional 923 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of Lincoln National in the 4th quarter worth about $34,000. 72.81% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
LNC has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Lincoln National from $41.00 to $37.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. UBS Group reissued a "neutral" rating and set a $39.00 price objective on shares of Lincoln National in a report on Thursday, May 14th. JPMorgan Chase & Co. decreased their price objective on shares of Lincoln National from $42.00 to $40.00 and set an "underweight" rating for the company in a report on Thursday, May 7th. Barclays reduced their price target on shares of Lincoln National from $44.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 8th. Finally, TD Cowen reduced their price target on shares of Lincoln National from $43.00 to $38.00 and set a "hold" rating on the stock in a research report on Monday, March 9th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Lincoln National currently has an average rating of "Hold" and an average target price of $43.00.
Get Our Latest Analysis on LNC
About Lincoln National
(
Get Free Report)
Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures.
The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
