Cyndeo Wealth Partners LLC Takes $7.67 Million Position in Lincoln National Corporation $LNC

Key Points

• Cyndeo Wealth Partners LLC has acquired a new position in Lincoln National Corporation, purchasing 221,618 shares valued at approximately $7.67 million.
• Lincoln National recently reported earnings of $2.36 per share, surpassing analyst expectations of $1.91, although revenue did not meet forecasts.
• The company has declared a quarterly dividend of $0.45 per share, representing a yield of 4.5%, with the ex-dividend date set for October 10th.

Cyndeo Wealth Partners LLC acquired a new stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 221,618 shares of the financial services provider's stock, valued at approximately $7,668,000. Cyndeo Wealth Partners LLC owned approximately 0.13% of Lincoln National as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC grew its holdings in Lincoln National by 22.2% during the first quarter. Janney Montgomery Scott LLC now owns 184,957 shares of the financial services provider's stock worth $6,642,000 after buying an additional 33,644 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Lincoln National by 34.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 204,010 shares of the financial services provider's stock worth $7,346,000 after buying an additional 51,823 shares in the last quarter. Integrated Advisors Network LLC bought a new stake in Lincoln National during the first quarter worth $293,000. DMC Group LLC grew its holdings in Lincoln National by 47.1% during the first quarter. DMC Group LLC now owns 25,749 shares of the financial services provider's stock worth $925,000 after buying an additional 8,250 shares in the last quarter. Finally, Smith Salley Wealth Management bought a new stake in Lincoln National during the first quarter worth $268,000. Institutional investors own 72.81% of the company's stock.

Insider Activity at Lincoln National

In other news, EVP John Christopher Kennedy sold 5,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $39.29, for a total transaction of $196,450.00. Following the transaction, the executive vice president owned 123,815 shares of the company's stock, valued at $4,864,691.35. This represents a 3.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is owned by corporate insiders.

Lincoln National Stock Down 0.0%

Shares of NYSE:LNC opened at $39.87 on Friday. The company has a market capitalization of $7.56 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 0.53 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.26 and a quick ratio of 0.26. The business has a fifty day moving average price of $40.73 and a two-hundred day moving average price of $35.89. Lincoln National Corporation has a 1 year low of $27.58 and a 1 year high of $43.66.

Lincoln National (NYSE:LNC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $2.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.91 by $0.45. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.65 billion. Lincoln National had a return on equity of 19.14% and a net margin of 6.34%.During the same quarter in the prior year, the company earned $1.87 EPS. Analysts forecast that Lincoln National Corporation will post 7.69 earnings per share for the current year.

Lincoln National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, October 10th. Lincoln National's dividend payout ratio is currently 31.41%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LNC shares. National Bankshares set a $53.00 price target on Lincoln National in a report on Tuesday. Morgan Stanley decreased their price target on Lincoln National from $58.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday. Cfra Research upgraded Lincoln National to a "hold" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. upped their price target on Lincoln National from $38.00 to $41.00 and gave the stock an "underweight" rating in a report on Tuesday, July 8th. Finally, Piper Sandler restated a "neutral" rating and issued a $42.00 price objective on shares of Lincoln National in a research note on Tuesday. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Lincoln National has a consensus rating of "Reduce" and a consensus price target of $43.09.

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.

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