Gary Kelly Sells 15,007 Shares of Lincoln National (NYSE:LNC) Stock

Key Points

• Director Gary Kelly sold 15,007 Lincoln National shares at an average price of $26.50, generating approximately $397,686 in proceeds; the transaction was disclosed in an SEC filing.
• Lincoln National reported quarterly EPS of $2.24, beating estimates of $1.96, while revenue rose 12.3% year over year to $4.93 billion.
• The company declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 4.0% yield. Analysts maintain a consensus “Hold” rating with a $46.43 price target.

Lincoln National Corporation (NYSE:LNC - Get Free Report) Director Gary Kelly sold 15,007 shares of Lincoln National stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total transaction of $397,685.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lincoln National Stock Performance

Shares of Lincoln National stock traded up $0.19 on Friday, reaching $45.47. 1,198,439 shares of the company traded hands, compared to its average volume of 2,053,292. Lincoln National Corporation has a 52 week low of $32.18 and a 52 week high of $47.67. The company has a 50 day moving average of $40.18 and a 200 day moving average of $37.73. The firm has a market capitalization of $8.71 billion, a PE ratio of 3.94, a PEG ratio of 1.59 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.27 and a quick ratio of 0.27.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.28. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The company had revenue of $4.93 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $2.36 EPS. Lincoln National's revenue was up 12.3% on a year-over-year basis. Equities analysts forecast that Lincoln National Corporation will post 7.82 earnings per share for the current year.

Lincoln National Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Monday, October 12th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 9th. Lincoln National's dividend payout ratio (DPR) is currently 15.60%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. UBS Group increased their price target on Lincoln National from $39.00 to $44.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Jefferies Financial Group boosted their price objective on Lincoln National from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Morgan Stanley cut their target price on shares of Lincoln National from $43.00 to $40.00 and set an "overweight" rating for the company in a research report on Thursday, May 21st. National Bank Financial set a $51.00 target price on shares of Lincoln National in a research note on Thursday, July 9th. Finally, Mizuho boosted their price target on shares of Lincoln National from $51.00 to $53.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $46.43.

Institutional Trading of Lincoln National

A number of hedge funds and other institutional investors have recently made changes to their positions in LNC. Transamerica Financial Advisors LLC bought a new position in Lincoln National in the 4th quarter worth about $32,000. JPL Wealth Management LLC purchased a new stake in shares of Lincoln National in the third quarter worth about $29,000. Trust Co. of Vermont bought a new position in shares of Lincoln National in the second quarter valued at approximately $28,000. Los Angeles Capital Management LLC bought a new position in shares of Lincoln National in the fourth quarter valued at approximately $34,000. Finally, Laurel Wealth Advisors LLC purchased a new position in Lincoln National during the fourth quarter valued at approximately $38,000. 72.81% of the stock is currently owned by institutional investors.

About Lincoln National

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.

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