Lincoln National (NYSE:LNC) Stock: Insider James Waltman Reid Sells 52,434 Shares

Key Points

• EVP James Reid sold 52,434 Lincoln National shares for about $2.06 million at an average price of $39.26, reducing his ownership by 28.82% to 129,533 shares.
• Lincoln National reported quarterly EPS of $1.72, below analysts’ $1.96 estimate, although revenue of $5.06 billion exceeded expectations.
• Analysts’ consensus rating is Hold, with an average price target of $48.67; shares traded at $43.05 on Monday.

Lincoln National Corporation (NYSE:LNC - Get Free Report) EVP James Reid sold 52,434 shares of Lincoln National stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $39.26, for a total transaction of $2,058,558.84. Following the completion of the transaction, the executive vice president owned 129,533 shares of the company's stock, valued at $5,085,465.58. This represents a 28.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Lincoln National Stock Performance

LNC stock traded up $3.00 during midday trading on Monday, reaching $43.05. 2,695,716 shares of the company's stock traded hands, compared to its average volume of 2,044,556. The firm has a market capitalization of $8.20 billion, a PE ratio of 2.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.16. The company has a 50-day moving average price of $41.52 and a two-hundred day moving average price of $39.02. Lincoln National Corporation has a 52 week low of $32.18 and a 52 week high of $47.67. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.25 and a current ratio of 0.25.

Lincoln National (NYSE:LNC - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The financial services provider reported $1.72 EPS for the quarter, missing analysts' consensus estimates of $1.96 by ($0.24). The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.97 billion. Lincoln National had a return on equity of 17.02% and a net margin of 16.36%. During the same period in the previous year, the business earned $2.04 earnings per share. As a group, equities analysts anticipate that Lincoln National Corporation will post 7.90 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on LNC. UBS Group raised their target price on Lincoln National from $44.00 to $46.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 6th. TD Cowen upped their price target on 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 lowered their price target on shares of Lincoln National from $51.00 to $50.00 and set an "outperform" rating on the stock in a 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 for the company in a research report on Wednesday, October 7th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Lincoln National in a research note on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lincoln National presently has an average rating of "Hold" and an average target price of $48.67.

Hedge Funds Weigh In On Lincoln National

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in Lincoln National during the 2nd quarter worth approximately $63,112,000. Dimensional Fund Advisors LP lifted its position in Lincoln National by 24.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,755,506 shares of the financial services provider's stock valued at $275,304,000 after purchasing an additional 1,522,179 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Lincoln National by 509.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 683,040 shares of the financial services provider's stock valued at $24,248,000 after purchasing an additional 570,884 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Lincoln National by 223.2% during the first quarter. Quantinno Capital Management LP now owns 583,257 shares of the financial services provider's stock valued at $20,706,000 after purchasing an additional 402,783 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Lincoln National by 40.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,072,305 shares of the financial services provider's stock valued at $42,603,000 after purchasing an additional 306,999 shares during the period. 72.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

Founded in 1905 as The Lincoln National Life Insurance Company, the business takes its name from Abraham Lincoln.

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