Key Points
- EVP Sean Woodroffe sold 17,500 Lincoln National shares at an average $40.24, totaling $704,200; he retained 103,296 shares after the sale.
- Lincoln National’s latest quarterly earnings were $1.72 per share, below the $1.96 consensus estimate, while revenue of $5.06 billion exceeded expectations of $4.97 billion.
- Analysts’ consensus rating was Hold, with an average price target of $48.67; institutional investors owned 72.81% of the company’s shares.
Lincoln National Corporation (NYSE:LNC - Get Free Report) EVP Sean Woodroffe sold 17,500 shares of the company's stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $40.24, for a total value of $704,200.00. Following the completion of the sale, the executive vice president owned 103,296 shares in the company, valued at $4,156,631.04. The trade was a 14.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Sean Woodroffe also recently made the following trade(s):
- On Monday, August 17th, Sean Woodroffe sold 11,000 shares of Lincoln National stock. The shares were sold at an average price of $45.28, for a total value of $498,080.00.
Lincoln National Stock Up 7.5%
Shares of NYSE:LNC opened at $43.05 on Tuesday. The stock has a fifty day simple moving average of $41.51 and a two-hundred day simple moving average of $39.03. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 2.66, a PEG ratio of 1.40 and a beta of 1.16. Lincoln National Corporation has a 12-month low of $32.18 and a 12-month high of $47.67. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62.
Lincoln National (NYSE:LNC - Get Free Report) last released its earnings results on Thursday, November 5th. The financial services provider reported $1.72 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.24). Lincoln National had a return on equity of 17.35% and a net margin of 12.21%. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.97 billion. During the same period last year, the firm posted $2.04 earnings per share. On average, research analysts anticipate that Lincoln National Corporation will post 7.90 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Lincoln National
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LNC. Dimensional Fund Advisors LP lifted its position in Lincoln National by 24.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider's stock valued at $275,304,000 after acquiring an additional 1,522,179 shares in the last quarter. State Street Corp increased its holdings in shares of Lincoln National by 3.6% in the 2nd quarter. State Street Corp now owns 6,106,302 shares of the financial services provider's stock worth $215,858,000 after purchasing an additional 215,007 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Lincoln National by 3.9% in the 1st quarter. Jennison Associates LLC now owns 3,823,152 shares of the financial services provider's stock worth $135,722,000 after purchasing an additional 141,994 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Lincoln National in the second quarter worth $63,112,000. Finally, Bank of America Corp DE raised its stake in shares of Lincoln National by 11.5% in the second quarter. Bank of America Corp DE now owns 1,592,814 shares of the financial services provider's stock worth $56,306,000 after purchasing an additional 163,969 shares during the last quarter. 72.81% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on LNC. Keefe, Bruyette & Woods lowered their price target on Lincoln National from $51.00 to $50.00 and set an "outperform" rating for the company in a research report on Friday, October 9th. Mizuho cut their price objective on shares of Lincoln National from $53.00 to $49.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 7th. UBS Group raised their price objective on shares of Lincoln National from $44.00 to $46.00 and gave the company a "neutral" rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. reduced their price objective on shares of Lincoln National from $49.00 to $47.00 and set an "underweight" rating for the company in a research note on Thursday, October 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Lincoln National in a report on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Lincoln National presently has a consensus rating of "Hold" and a consensus target price of $48.67.
Check Out Our Latest Stock Analysis on Lincoln National
Lincoln National Company Profile
(
Get Free Report)
Lincoln National Corporation, operating as Lincoln Financial Group, is a financial services and insurance company whose businesses focus on protecting income and helping individuals and employers plan for financial needs. Its offerings include life insurance, annuities, workplace benefits and retirement plan services.
The company serves individuals, employers and retirement plan participants primarily in the United States. Its workplace protection products include benefits such as disability and life insurance, while its retirement services support employers and employees with workplace savings plans.
Founded in 1905 as The Lincoln National Life Insurance Company, the business takes its name from Abraham Lincoln.
Further Reading
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