Lincoln National Co. (NYSE:LNC) EVP Jamie Ohl sold 7,263 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $61.70, for a total transaction of $448,127.10. Following the completion of the transaction, the executive vice president now directly owns 23,159 shares of the company’s stock, valued at $1,428,910.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of NYSE LNC traded up $0.98 on Friday, reaching $62.72. 2,930,450 shares of the company’s stock traded hands, compared to its average volume of 1,888,291. Lincoln National Co. has a 12 month low of $48.07 and a 12 month high of $78.35. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 7.40, a P/E/G ratio of 0.74 and a beta of 1.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.19 and a current ratio of 0.19.
Lincoln National (NYSE:LNC) last announced its earnings results on Wednesday, February 6th. The financial services provider reported $2.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.02. Lincoln National had a net margin of 9.92% and a return on equity of 12.41%. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the firm earned $1.98 earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts forecast that Lincoln National Co. will post 9.16 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in LNC. JPMorgan Chase & Co. increased its stake in shares of Lincoln National by 59.7% during the third quarter. JPMorgan Chase & Co. now owns 11,919,511 shares of the financial services provider’s stock valued at $806,475,000 after purchasing an additional 4,457,743 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Lincoln National by 5,290.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,956,873 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 3,883,468 shares in the last quarter. Norges Bank bought a new position in shares of Lincoln National during the fourth quarter valued at approximately $197,189,000. Millennium Management LLC increased its stake in shares of Lincoln National by 148.9% during the fourth quarter. Millennium Management LLC now owns 1,180,277 shares of the financial services provider’s stock valued at $60,560,000 after purchasing an additional 706,124 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Lincoln National by 109.4% during the fourth quarter. Prudential Financial Inc. now owns 1,328,483 shares of the financial services provider’s stock valued at $68,165,000 after purchasing an additional 694,063 shares in the last quarter. 78.96% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Lincoln National from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Monday, December 10th. ValuEngine raised shares of Lincoln National from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $74.69.
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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.
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