Dennis R. Glass Sells 234,847 Shares of Lincoln National Corporation (LNC) Stock
Lincoln National Corporation (NYSE:LNC) CEO Dennis R. Glass sold 234,847 shares of the firm’s stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $71.81, for a total transaction of $16,864,363.07. Following the completion of the sale, the chief executive officer now owns 708,676 shares in the company, valued at approximately $50,890,023.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Dennis R. Glass also recently made the following trade(s):
- On Thursday, February 9th, Dennis R. Glass sold 159,847 shares of Lincoln National Corporation stock. The shares were sold at an average price of $69.50, for a total transaction of $11,109,366.50.
Lincoln National Corporation (NYSE:LNC) opened at 72.66 on Friday. The company’s 50 day moving average is $68.35 and its 200-day moving average is $56.76. Lincoln National Corporation has a 1-year low of $34.16 and a 1-year high of $73.31. The firm has a market cap of $16.44 billion, a price-to-earnings ratio of 14.45 and a beta of 2.10.
Lincoln National Corporation (NYSE:LNC) last issued its earnings results on Wednesday, February 1st. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.06. Lincoln National Corporation had a net margin of 8.88% and a return on equity of 9.93%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the previous year, the business earned $1.54 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Lincoln National Corporation will post $6.98 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Lincoln National Corporation by 7.6% in the fourth quarter. State Street Corp now owns 11,331,398 shares of the company’s stock valued at $750,942,000 after buying an additional 803,941 shares during the period. Bloom Tree Partners LLC acquired a new stake in shares of Lincoln National Corporation during the third quarter valued at $37,376,000. O Shaughnessy Asset Management LLC raised its stake in shares of Lincoln National Corporation by 574.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 745,165 shares of the company’s stock valued at $49,382,000 after buying an additional 634,703 shares during the period. Scout Investments Inc. acquired a new stake in shares of Lincoln National Corporation during the third quarter valued at $26,758,000. Finally, Bank of Montreal Can raised its stake in shares of Lincoln National Corporation by 25.6% in the third quarter. Bank of Montreal Can now owns 2,737,161 shares of the company’s stock valued at $128,592,000 after buying an additional 557,065 shares during the period. Institutional investors and hedge funds own 78.34% of the company’s stock.
Several brokerages have commented on LNC. RBC Capital Markets upgraded shares of Lincoln National Corporation from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $62.00 to $73.00 in a research note on Thursday, December 8th. Morgan Stanley lowered shares of Lincoln National Corporation from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $60.00 to $71.00 in a research note on Wednesday, December 14th. FBR & Co lowered shares of Lincoln National Corporation from an “outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research note on Wednesday, November 9th. Zacks Investment Research upgraded shares of Lincoln National Corporation from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Monday, November 21st. Finally, Deutsche Bank AG raised their price objective on shares of Lincoln National Corporation from $66.00 to $69.00 and gave the company a “hold” rating in a research note on Monday, January 23rd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $67.00.
About Lincoln National Corporation
Lincoln National Corporation is a holding company, which operates insurance and retirement businesses through subsidiary companies. The Company sells a range of wealth protection, accumulation and retirement income products and solutions, through its business segments. It operates through four segments: Annuities segment, which offers fixed (including indexed) and variable annuities; Retirement Plan Services segment, which provides employers with retirement plan products and services; Life Insurance segment, which focuses in the creation and protection of wealth through life insurance products, and Group Protection, which offers principally group non-medical insurance products.
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