Lincoln National (NYSE:LNC) EVP Sells $1,033,500.00 in Stock

Lincoln National Corporation (NYSE:LNC) EVP Craigt Beazer sold 30,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.45, for a total transaction of $1,033,500.00. Following the transaction, the executive vice president owned 103,906 shares in the company, valued at $3,579,561.70. This represents a 22.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Lincoln National Stock Up 0.9%

LNC traded up $0.33 on Monday, hitting $35.07. The company had a trading volume of 1,262,217 shares, compared to its average volume of 2,092,126. 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 52-week low of $31.69 and a 52-week high of $46.82. The stock has a fifty day simple moving average of $35.56 and a 200-day simple moving average of $38.71. The firm has a market capitalization 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.

Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, May 7th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $4.87 billion for the quarter, compared to the consensus estimate of $4.93 billion. Lincoln National had a return on equity of 18.07% and a net margin of 9.17%.The business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 EPS. As a group, equities analysts expect that Lincoln National Corporation will post 7.72 EPS for the current fiscal year.

Lincoln National Announces Dividend

The company 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 $0.45 dividend. The ex-dividend date is Friday, July 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.1%. Lincoln National’s dividend payout ratio is 20.88%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Lincoln National from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Bank of America lowered their price target on shares of Lincoln National from $41.00 to $37.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. TD Cowen dropped their price objective on shares of Lincoln National from $43.00 to $38.00 and set a “hold” rating on the stock in a research note on Monday, March 9th. National Bank Financial set a $40.00 price objective on shares of Lincoln National in a report on Thursday, May 21st. Finally, Mizuho decreased their target price on shares of Lincoln National from $54.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.00.

Hedge Funds Weigh In On Lincoln National

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Concorde Asset Management LLC purchased a new position in shares of Lincoln National in the first quarter worth $293,000. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Lincoln National by 15.8% during the first quarter. Summit Financial Wealth Advisors LLC now owns 5,792 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 792 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Lincoln National during the first quarter valued at $386,000. Bank of America Corp DE increased its holdings in Lincoln National by 4.7% in the 1st quarter. Bank of America Corp DE now owns 1,428,845 shares of the financial services provider’s stock worth $50,724,000 after buying an additional 64,403 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new position in Lincoln National in the 1st quarter worth about $769,000. 72.81% of the stock is owned by institutional investors.

Lincoln National Company Profile

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.