Lincoln National (NYSE:LNC) EVP Sells 17,980 Shares of Company Stock

Key Points

• Lincoln National EVP Craigt Beazer sold 17,980 shares at an average price of $42.50, worth about $764,150. After the sale, he retained 87,702 shares, a 17.01% reduction in his position.
• The company’s latest quarterly earnings were $1.72 per share, below the $1.96 analyst consensus, while revenue of $5.06 billion topped expectations of $4.97 billion.
• Lincoln National shares traded at $42.73; analysts’ average rating was “Hold,” with an average price target of $48.67.

Lincoln National Corporation (NYSE:LNC - Get Free Report) EVP Craigt Beazer sold 17,980 shares of the company's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $42.50, for a total value of $764,150.00. Following the completion of the sale, the executive vice president owned 87,702 shares in the company, valued at $3,727,335. The trade was a 17.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lincoln National Stock Performance

Lincoln National stock traded down $0.25 during midday trading on Tuesday, hitting $42.73. 1,701,782 shares of the company were exchanged, compared to its average volume of 2,042,974. The firm has a market capitalization of $8.18 billion, a PE ratio of 2.64, a price-to-earnings-growth ratio of 1.40 and a beta of 1.16. Lincoln National Corporation has a fifty-two week low of $32.18 and a fifty-two week high of $47.67. The business has a fifty day simple moving average of $41.51 and a two-hundred day simple moving average of $39.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.27 and a current ratio of 0.27.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The financial services provider reported $1.72 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.24). Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.97 billion. During the same quarter in the prior year, the business posted $2.04 earnings per share. On average, sell-side analysts forecast that Lincoln National Corporation will post 7.90 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LNC. Morgan Stanley decreased their target price on shares of Lincoln National from $50.00 to $47.00 and set an "overweight" rating for the company in a research note on Monday, October 5th. TD Cowen raised their price target on shares of Lincoln National from $37.00 to $42.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods cut their price objective on shares of Lincoln National from $51.00 to $50.00 and set an "outperform" rating for the company in a report on Friday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of Lincoln National from $49.00 to $47.00 and set an "underweight" rating for the company in a report on Thursday, October 15th. Finally, National Bank Financial set a $49.00 price objective on shares of Lincoln National in a research report on Wednesday, October 7th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lincoln National presently has an average rating of "Hold" and an average price target of $48.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LNC. Dimensional Fund Advisors LP increased its holdings 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 worth $275,304,000 after acquiring an additional 1,522,179 shares in the last quarter. State Street Corp grew its position in shares of Lincoln National by 3.6% in the second quarter. State Street Corp now owns 6,106,302 shares of the financial services provider's stock valued at $215,858,000 after purchasing an additional 215,007 shares during the period. Jennison Associates LLC grew its position in shares of Lincoln National by 3.9% in the first quarter. Jennison Associates LLC now owns 3,823,152 shares of the financial services provider's stock valued at $135,722,000 after purchasing an additional 141,994 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Lincoln National in the second quarter valued at about $63,112,000. Finally, Bank of America Corp DE increased its stake in shares of Lincoln National by 11.5% during 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 in the last quarter. Hedge funds and other institutional investors own 72.81% of the company's stock.

Lincoln National Company Profile

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.

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