Traders Buy Large Volume of Lincoln National Put Options (LNC)

Lincoln National Co. (NYSE:LNC) saw some unusual options trading on Thursday. Stock traders acquired 5,156 put options on the stock. This represents an increase of 841% compared to the typical daily volume of 548 put options.

NYSE:LNC opened at $55.24 on Friday. Lincoln National has a 52-week low of $48.07 and a 52-week high of $86.68. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of 7.09 and a beta of 1.89.

Lincoln National (NYSE:LNC) last posted its quarterly earnings data on Thursday, November 1st. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.17. Lincoln National had a return on equity of 11.61% and a net margin of 13.14%. The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.25 billion. During the same quarter in the prior year, the business earned $1.87 EPS. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. On average, analysts expect that Lincoln National will post 8.51 earnings per share for the current year.



The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 10th will be issued a dividend of $0.37 per share. This is an increase from Lincoln National’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.48 annualized dividend and a yield of 2.68%. Lincoln National’s dividend payout ratio is currently 19.00%.

In other news, EVP Jamie Ohl sold 2,152 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $58.00, for a total value of $124,816.00. Following the sale, the executive vice president now directly owns 12,732 shares in the company, valued at approximately $738,456. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.12% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Jupiter Asset Management Ltd. lifted its holdings in Lincoln National by 1.8% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 44,873 shares of the financial services provider’s stock worth $3,035,000 after buying an additional 786 shares in the last quarter. Franklin Street Advisors Inc. NC lifted its stake in shares of Lincoln National by 16.7% in the 3rd quarter. Franklin Street Advisors Inc. NC now owns 6,026 shares of the financial services provider’s stock valued at $408,000 after purchasing an additional 863 shares during the period. AGF Investments Inc. lifted its stake in shares of Lincoln National by 0.3% in the 3rd quarter. AGF Investments Inc. now owns 295,876 shares of the financial services provider’s stock valued at $20,019,000 after purchasing an additional 878 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Lincoln National by 3.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 29,241 shares of the financial services provider’s stock valued at $1,978,000 after purchasing an additional 883 shares during the period. Finally, Pinnacle Financial Partners Inc. lifted its stake in shares of Lincoln National by 3.1% in the 3rd quarter. Pinnacle Financial Partners Inc. now owns 29,143 shares of the financial services provider’s stock valued at $1,972,000 after purchasing an additional 888 shares during the period. 80.48% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently commented on LNC. Wells Fargo & Co began coverage on Lincoln National in a research report on Tuesday. They set a “market perform” rating and a $63.00 price target on the stock. Zacks Investment Research lowered Lincoln National from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Finally, ValuEngine lowered Lincoln National from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 11th. One 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’s stock. The company currently has an average rating of “Hold” and a consensus target price of $74.69.

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Lincoln National Company Profile

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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