Lincoln National Corporation (LNC) was Downgraded by Goldman to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Jul 15, 2016.
Many Wall Street Analysts have commented on Lincoln National Corporation. Lincoln National Corporation was Downgraded by BofA/Merrill to ” Neutral” on Jun 29, 2016. Shares were Reiterated by Barclays on May 5, 2016 to “Overweight” and Lowered the Price Target to $ 49 from a previous price target of $51 .
On the company’s financial health, Lincoln National Corporation reported $1.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.24 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $1.49. The company had revenue of $3243.00 million for the quarter, compared to analysts expectations of $3460.72 million. The company’s revenue was down -1.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.35 EPS.
Lincoln National Corporation closed down -0.43 points or -1.04% at $40.96 with 25,24,379 shares getting traded on Wednesday. Post opening the session at $41.14, the shares hit an intraday low of $40.23 and an intraday high of $41.39 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on May 19, 2016, Mark E Konen (President – Ins. Sol. and Ann.) sold 16,000 shares at $45.26 per share price. According to the SEC, on Mar 16, 2016, Douglas N Miller (SVP & CAO) sold 6,960 shares at $40.03 per share price. On Nov 10, 2015, Randal J Freitag (EVP & CFO) sold 8,065 shares at $56.97 per share price, according to the Form-4 filing with the securities and exchange commission.
Lincoln National Corporation is a holding company which operates multiple 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. These products include fixed and indexed annuities variable annuities universal life insurance variable universal life insurance linked-benefit UL term life insurance indexed universal life insurance employer-sponsored retirement plans and services and group life disability and dental. It operates in four segments: Annuities offers fixed (including indexed) and variable annuities. Retirement Plan Services provides employers with retirement plan products and services. Life Insurance focuses in the creation and protection of wealth through life insurance products. Group Protection offers principally group non-medical insurance products.