Jamie Ohl Sells 2,152 Shares of Lincoln National Co. (LNC) Stock
Lincoln National Co. (NYSE:LNC) EVP Jamie Ohl sold 2,152 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $58.00, for a total value of $124,816.00. Following the sale, the executive vice president now owns 12,732 shares in the company, valued at approximately $738,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of NYSE:LNC traded down $1.30 during trading on Friday, hitting $56.40. 2,231,244 shares of the company traded hands, compared to its average volume of 1,647,982. The firm has a market capitalization of $12.32 billion, a PE ratio of 7.24 and a beta of 1.87. Lincoln National Co. has a one year low of $55.83 and a one year high of $86.68. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.39.
Lincoln National (NYSE:LNC) last posted its earnings results on Thursday, November 1st. The financial services provider reported $2.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.17. The company had revenue of $4.26 billion during the quarter, compared to analyst estimates of $4.25 billion. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The business’s revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 earnings per share. As a group, analysts predict that Lincoln National Co. will post 8.56 EPS for the current fiscal year.
LNC has been the topic of several research reports. Goldman Sachs Group upgraded Lincoln National from a “sell” rating to a “neutral” rating and upped their price objective for the company from $69.00 to $70.00 in a research note on Monday, September 10th. Zacks Investment Research upgraded Lincoln National from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Monday, October 8th. UBS Group upped their price objective on Lincoln National from $73.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, October 8th. Credit Suisse Group cut their price objective on Lincoln National from $74.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. Finally, Bank of America cut their price objective on Lincoln National from $79.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.69.
Several large investors have recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of Lincoln National by 2.3% during the third quarter. Legal & General Group Plc now owns 1,051,772 shares of the financial services provider’s stock valued at $71,151,000 after purchasing an additional 23,662 shares during the last quarter. Standard Life Aberdeen plc grew its holdings in shares of Lincoln National by 7.7% during the third quarter. Standard Life Aberdeen plc now owns 89,161 shares of the financial services provider’s stock valued at $6,033,000 after purchasing an additional 6,357 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Lincoln National by 8.5% during the third quarter. Nordea Investment Management AB now owns 268,753 shares of the financial services provider’s stock valued at $18,182,000 after purchasing an additional 21,060 shares during the last quarter. Kentucky Retirement Systems bought a new position in shares of Lincoln National during the third quarter valued at approximately $1,118,000. Finally, Captrust Financial Advisors grew its holdings in shares of Lincoln National by 66.8% during the third quarter. Captrust Financial Advisors now owns 4,086 shares of the financial services provider’s stock valued at $276,000 after purchasing an additional 1,637 shares during the last quarter. 80.85% of the stock is owned by institutional investors.
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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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