Daymark Wealth Partners LLC Acquires Shares of 10,213 Lincoln National Co. (NYSE:LNC)

Daymark Wealth Partners LLC bought a new position in shares of Lincoln National Co. (NYSE:LNC) in the fourth quarter, HoldingsChannel reports. The firm bought 10,213 shares of the financial services provider’s stock, valued at approximately $324,000.

Several other hedge funds have also modified their holdings of LNC. Hennessy Advisors Inc. purchased a new position in Lincoln National in the fourth quarter worth $54,189,000. International Assets Investment Management LLC increased its holdings in shares of Lincoln National by 3,488.2% in the 3rd quarter. International Assets Investment Management LLC now owns 966,379 shares of the financial services provider’s stock valued at $30,669,000 after purchasing an additional 939,447 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Lincoln National by 49.5% in the second quarter. AQR Capital Management LLC now owns 2,150,863 shares of the financial services provider’s stock valued at $66,892,000 after purchasing an additional 711,951 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Lincoln National by 167.7% during the third quarter. Assenagon Asset Management S.A. now owns 600,212 shares of the financial services provider’s stock worth $18,913,000 after buying an additional 375,989 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Lincoln National by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,828,513 shares of the financial services provider’s stock worth $87,970,000 after buying an additional 348,601 shares during the period. 72.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LNC has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on Lincoln National from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. StockNews.com raised Lincoln National from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Barclays cut their price target on Lincoln National from $38.00 to $36.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Piper Sandler lowered their price objective on shares of Lincoln National from $37.00 to $34.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, TD Cowen upped their price target on shares of Lincoln National from $34.00 to $37.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.40.

Insider Buying and Selling

In other Lincoln National news, EVP John Christopher Kennedy sold 2,863 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $36.00, for a total transaction of $103,068.00. Following the completion of the sale, the executive vice president now owns 99,644 shares of the company’s stock, valued at approximately $3,587,184. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Lincoln National Trading Up 1.3 %

Shares of LNC opened at $33.50 on Friday. Lincoln National Co. has a fifty-two week low of $25.09 and a fifty-two week high of $36.98. The stock has a fifty day moving average of $33.04 and a two-hundred day moving average of $32.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market capitalization of $5.71 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 0.26 and a beta of 1.78.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, October 31st. The financial services provider reported $2.06 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.42. The firm had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $4.61 billion. Lincoln National had a return on equity of 18.15% and a net margin of 2.51%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.23 earnings per share. As a group, analysts forecast that Lincoln National Co. will post 6.97 EPS for the current year.

Lincoln National Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.45 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.80 dividend on an annualized basis and a yield of 5.37%. Lincoln National’s payout ratio is 128.57%.

Lincoln National Company Profile

Lincoln National Corporation, through its subsidiaries, operates multiple insurance and retirement businesses in the United States. It operates in four segments: Life Insurance, Annuities, Group Protection, and Retirement Plan Services. The Life Insurance segment provides life insurance products, including term insurance, universal life insurance (UL), indexed universal life insurance, variable universal life insurance (VUL), linked-benefit UL and VUL products, and critical illness and long-term care riders.