Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lincoln National Corporation shares valued at $2,906,500 were sold by GLASS DENNIS R on May 31. At $58.13 per share, GLASS DENNIS R sold 50,000 shares. The insider’s holdings dropped to 558,622 shares worth approximately $26.08 million following the completion of this transaction.
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Also, Kennedy John Christopher sold 10,922 shares, netting a total of over 802,985 in proceeds. Following the sale of shares at $73.52 each, the insider now holds 12,724 shares.
Before that, Freitag Randal J had sold 61,430 shares from its account. In a trade valued at $4,487,462, the EVP & CFO traded Lincoln National Corporation shares for $73.05 each. Upon closing the transaction, the insider’s holdings decreased to 61,430 shares, worth approximately $9.59 million.
As published in a research note from Wolfe Research on June 23, 2022, Lincoln National Corporation [LNC] has been rated down from an Outperform to a Peer perform and the price target has been revised to $53 from $99. This represents a 11.91% premium over Thursday’s closing price. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in late May. As of March 01, 2022, Goldman has decreased its “Buy” rating to a “Neutral” for LNC. Earlier on January 26, 2022, Jefferies initiated its rating. Their recommendation was “a Buy” for LNC stock.
Analyzing LNC’s Price Performance
On Thursday, Lincoln National Corporation [NYSE: LNC] plunged -2.71% to $46.69. The stock’s lowest price that day was $46.56, but it reached a high of $48.19 in the same session. During the last five days, there has been a drop of approximately -5.33%. Over the course of the year, Lincoln National Corporation shares have dropped approximately -31.60%. Shares of the company reached a 52-week high of $76.40 on 02/10/22 and a 52-week low of $44.89 on 07/14/22. A 50-day SMA is recorded $48.76, while a 200-day SMA reached $58.99. Nevertheless, trading volume fell to 1.31 million shares from 1.57 million shares the previous day.
Support And Resistance Levels for Lincoln National Corporation (LNC)
According to the 24-hour chart, there is a support level at 46.10, which, if violated, would cause prices to drop to 45.52. In the upper region, resistance lies at 47.73. The next price resistance is at 48.78. RSI (Relative Strength Index) is 42.85 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.77, which suggests the price will decrease in the coming days. Percent R is at 79.01%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Lincoln National Corporation subject to short interest?
Stocks of Lincoln National Corporation saw a sharp rise in short interest on Aug 30, 2022 jumping by 0.22 million shares to 5.18 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 4.96 million shares. A jump of 4.25% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.82 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.82.
Which companies own the most shares of Lincoln National Corporation (LNC)?
According to The Vanguard Group, Inc. filings, the company currently owns 18,684,226 shares, which is about 10.98% of the total LNC shares outstanding. The investor’s shares have plunged by -14,408 from its previous 13-F filing of 18698634.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $427,322,894. SSgA Funds Management, Inc. reduced a -7.24% interest valued at $359.99 million while Dodge & Cox purchased a 27,805 stake. A total of -178,951 shares of Lincoln National Corporation were bought by Lyrical Asset Management LP during the quarter, and -929,145 were sold by Fidelity Management & Research Co. In its current portfolio, Geode Capital Management LLC holds 3,304,626 shares valued at $152.21 million.
In terms of Lincoln National Corporation share price expectations, FactSet research, analysts set an average price target of $58.80 in the next 12 months, up nearly 16.69% from the previous closing price of $47.99. Analysts anticipate Lincoln National Corporation stock to reach $78.00 by 2022, with the lowest price target being $45.00. In spite of this, 16 analysts ranked Lincoln National Corporation stock as a Hold at the end of 2022. On January 21, 2022, Wolfe Research assigned a price target of “an Outperform” to the stock and initiated coverage with a $99.