Lincoln National Co. (NYSE:LNC) EVP Jamie Ohl sold 2,152 shares of the business’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $58.00, for a total value of $124,816.00. Following the sale, the executive vice president now directly owns 12,732 shares of the company’s stock, valued at approximately $738,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
LNC stock traded down $1.30 during trading on Friday, reaching $56.40. 2,231,244 shares of the stock traded hands, compared to its average volume of 1,647,982. The company has a market cap of $12.32 billion, a PE ratio of 7.24 and a beta of 1.87. Lincoln National Co. has a 52-week low of $55.83 and a 52-week high of $86.68. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.39.
Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.17. The company had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.87 earnings per share. Equities analysts forecast that Lincoln National Co. will post 8.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Wednesday, January 9th. This is a boost from Lincoln National’s previous quarterly dividend of $0.33. Lincoln National’s payout ratio is currently 16.94%.
A number of equities research analysts have issued reports on LNC shares. Credit Suisse Group lowered their price target on Lincoln National from $74.00 to $68.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. ValuEngine raised Lincoln National from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 22nd. Goldman Sachs Group raised Lincoln National from a “sell” rating to a “neutral” rating and boosted their price target for the company from $69.00 to $70.00 in a research report on Monday, September 10th. UBS Group boosted their price target on Lincoln National from $73.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, October 8th. Finally, Zacks Investment Research raised Lincoln National from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Monday, October 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $76.69.
Several institutional investors and hedge funds have recently modified their holdings of LNC. Eqis Capital Management Inc. acquired a new position in shares of Lincoln National during the second quarter worth about $294,000. Commonwealth Equity Services LLC lifted its stake in shares of Lincoln National by 25.4% during the second quarter. Commonwealth Equity Services LLC now owns 65,268 shares of the financial services provider’s stock worth $4,063,000 after purchasing an additional 13,207 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Lincoln National during the second quarter worth about $1,052,000. First Trust Advisors LP lifted its stake in shares of Lincoln National by 27.2% during the second quarter. First Trust Advisors LP now owns 470,462 shares of the financial services provider’s stock worth $29,286,000 after purchasing an additional 100,646 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Lincoln National by 5.9% during the second quarter. Victory Capital Management Inc. now owns 96,338 shares of the financial services provider’s stock worth $5,997,000 after purchasing an additional 5,346 shares in the last quarter. Institutional investors own 80.85% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This news story was published by XNewsPress and is the sole property of of XNewsPress. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://xnewspress.com/news/2018/12/08/lincoln-national-co-lnc-evp-jamie-ohl-sells-2152-shares-of-stock.html.
About Lincoln National
Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates through four segments: Annuities, Retirement Plan Services, Life Insurance, and Group Protection. The company sells a range of wealth protection, accumulation, and retirement income products and solutions.
Featured Article: What is an SEC Filing?
Receive News & Ratings for Lincoln National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lincoln National and related companies with MarketBeat.com's FREE daily email newsletter.