Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lincoln National Corporation shares valued at $46,185 were sold by Kennedy John Christopher on Dec 15. At $30.79 per share, Kennedy John Christopher sold 1,500 shares. The insider’s holdings dropped to 20,336 shares worth approximately $0.59 million following the completion of this transaction.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Also, Connelly Deirdre P purchased 3,000 shares, netting a total of over 112,230 in proceeds. Following the buying of shares at $37.41 each, the insider now holds 4,000 shares.
Before that, GLASS DENNIS R had sold 50,000 shares from its account. In a trade valued at $2,906,500, the Director traded Lincoln National Corporation shares for $58.13 each. Upon closing the transaction, the insider’s holdings decreased to 50,000 shares, worth approximately $16.34 million.
As published in a research note from Barclays on January 09, 2023, Lincoln National Corporation [LNC] has been rated down from an Equal weight to an Underweight and the price target has been revised to $29 from $35. This represents a -0.86% premium over Wednesday’s closing price. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early January. As of November 16, 2022, Goldman has increased its “Neutral” rating to a “Buy” for LNC. Earlier on November 04, 2022, Credit Suisse upgraded its rating. Their new recommendation was “a Neutral” for LNC stock which previously was a “an Underperform”.
Analyzing LNC Stock Performance
On Wednesday, Lincoln National Corporation [NYSE: LNC] plunged -2.14% to $29.25. The stock’s lowest price that day was $28.96, but it reached a high of $29.925 in the same session. During the last five days, there has been a drop of approximately -5.95%. Over the course of the year, Lincoln National Corporation shares have dropped approximately -4.79%. Shares of the company reached a 52-week high of $36.50 on 02/02/23 and a 52-week low of $28.96 on 03/08/23. A 50-day SMA is recorded $32.33, while a 200-day SMA reached $42.52. Nevertheless, trading volume fell to 2.56 million shares from 2.86 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 28.83, which, if violated, would cause prices to drop to 28.41. In the upper region, resistance lies at 29.80. The next price resistance is at 30.34. RSI (Relative Strength Index) is 33.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.75, which suggests the price will decrease in the coming days. Percent R is at 95.32%, indicating bearish price movement. Stochastics %K at buying 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 Jan 12, 2023 jumping by 1.4 million shares to 6.52 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 5.12 million shares. A jump of 21.47% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.03 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.03.
Which companies own the most shares of Lincoln National Corporation (LNC)?
According to The Vanguard Group, Inc. filings, the company currently owns 19,361,350 shares, which is about 11.44% of the total LNC shares outstanding. The investor’s shares have appreciated by 832,892 from its previous 13-F filing of 18528458.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $335,605,431. BlackRock Fund Advisors reduced a -3.61% interest valued at $316.85 million while Millennium Management LLC purchased a 3,794,705 stake. A total of 1,004,246 shares of Lincoln National Corporation were bought by Columbia Management Investment Ad during the quarter, and 20,250 were bought by Dodge & Cox. In its current portfolio, Invesco Capital Management LLC holds 4,286,083 shares valued at $151.86 million.
In terms of Lincoln National Corporation share price expectations, FactSet research, analysts set an average price target of $34.07 in the next 12 months, up nearly 17.1% from the previous closing price of $29.89. Analysts anticipate Lincoln National Corporation stock to reach $39.00 by 2023, with the lowest price target being $25.00. In spite of this, 17 analysts ranked Lincoln National Corporation stock as a Hold at the end of 2023. On November 04, 2022, Piper Sandler assigned a price target of “a Neutral” to the stock and downgraded coverage with a $38.