James Waltman Reid Sells 3,050 Shares of Lincoln National (NYSE:LNC) Stock

Lincoln National Corporation (NYSE:LNC) EVP James Waltman Reid sold 3,050 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $41.81, for a total transaction of $127,520.50. Following the completion of the sale, the executive vice president directly owned 118,567 shares in the company, valued at approximately $4,957,286.27. The trade was a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Lincoln National Price Performance

Shares of Lincoln National stock traded down $1.70 during mid-day trading on Thursday, reaching $40.14. 1,726,437 shares of the stock were exchanged, compared to its average volume of 1,890,838. Lincoln National Corporation has a fifty-two week low of $27.58 and a fifty-two week high of $46.82. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 1.75 and a beta of 1.30. The firm has a 50-day simple moving average of $42.84 and a 200 day simple moving average of $41.46. The company has a current ratio of 0.27, a quick ratio of 0.28 and a debt-to-equity ratio of 0.59.

Lincoln National (NYSE:LNC) last issued its quarterly earnings data on Thursday, February 12th. The financial services provider reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.35. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Lincoln National had a net margin of 6.46% and a return on equity of 18.52%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.91 earnings per share. On average, sell-side analysts predict that Lincoln National Corporation will post 7.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. National Bank Financial set a $45.00 price objective on Lincoln National in a research report on Thursday, January 8th. Jefferies Financial Group raised their target price on Lincoln National from $52.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, December 15th. Piper Sandler lifted their price target on Lincoln National from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Tuesday, December 23rd. Mizuho began coverage on shares of Lincoln National in a research report on Tuesday, December 16th. They set an “outperform” rating and a $52.00 price target on the stock. Finally, Morgan Stanley restated an “overweight” rating on shares of Lincoln National in a research report on Monday, December 15th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Lincoln National presently has a consensus rating of “Hold” and an average price target of $46.25.

Hedge Funds Weigh In On Lincoln National

Several large investors have recently made changes to their positions in LNC. Corient Private Wealth LLC increased its position in Lincoln National by 121.6% in the fourth quarter. Corient Private Wealth LLC now owns 89,832 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 49,301 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Lincoln National by 30.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,701 shares of the financial services provider’s stock valued at $610,000 after purchasing an additional 3,172 shares during the last quarter. State of Tennessee Department of Treasury boosted its stake in shares of Lincoln National by 3.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 94,066 shares of the financial services provider’s stock valued at $3,914,000 after purchasing an additional 3,303 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Lincoln National during the 4th quarter worth approximately $488,000. Finally, Mackenzie Financial Corp raised its stake in shares of Lincoln National by 1,532.3% during the fourth quarter. Mackenzie Financial Corp now owns 533,823 shares of the financial services provider’s stock worth $23,927,000 after buying an additional 501,120 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company’s stock.

About Lincoln National

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.