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

Lincoln National Corporation (NYSE:LNC) Director Gary Kelly sold 15,007 shares of Lincoln National stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $26.50, for a total value of $397,685.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Lincoln National Price Performance

Shares of Lincoln National stock opened at $45.47 on Friday. The business has a 50 day moving average of $40.40 and a 200 day moving average of $37.78. Lincoln National Corporation has a 52 week low of $32.18 and a 52 week high of $47.67. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.62. The company has a market cap of $8.71 billion, a PE ratio of 3.94, a P/E/G ratio of 1.64 and a beta of 1.15.

Lincoln National (NYSE:LNC) last announced its earnings results on Thursday, July 30th. The financial services provider reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.28. The firm had revenue of $4.93 billion for the quarter, compared to analyst estimates of $4.89 billion. Lincoln National had a net margin of 12.21% and a return on equity of 17.35%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.36 EPS. As a group, equities research analysts forecast that Lincoln National Corporation will post 7.85 earnings per share for the current year.

Lincoln National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Monday, October 12th will be given a dividend of $0.45 per share. 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 15.60%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Lincoln National from $56.00 to $57.00 and gave the company a “buy” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their target price on Lincoln National from $46.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Barclays raised Lincoln National from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $42.00 to $45.00 in a research report on Monday, July 6th. Morgan Stanley reduced their price objective on shares of Lincoln National from $43.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Finally, Bank of America reissued a “neutral” rating and set a $47.00 price target on shares of Lincoln National in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.43.

Hedge Funds Weigh In On Lincoln National

Several institutional investors have recently made changes to their positions in LNC. Trust Co. of Vermont purchased a new position in shares of Lincoln National during the 2nd quarter worth $28,000. JPL Wealth Management LLC purchased a new stake in shares of Lincoln National in the 3rd quarter worth $29,000. Transamerica Financial Advisors LLC purchased a new position in Lincoln National during the fourth quarter valued at $32,000. NBT Bank N A NY grew its holdings in Lincoln National by 2,051.1% during the first quarter. NBT Bank N A NY now owns 968 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 923 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Lincoln National during the 4th quarter valued at approximately $34,000. Institutional investors own 72.81% of the company’s stock.

Lincoln National Company Profile

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.