Lincoln National Corporation (NYSE:LNC) Stake Lifted by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lifted its stake in shares of Lincoln National Corporation (NYSE:LNC - Free Report) by 1,370.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 150,201 shares of the financial services provider's stock after buying an additional 139,988 shares during the quarter. Daymark Wealth Partners LLC owned about 0.09% of Lincoln National worth $5,394,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Lincoln National by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,876,319 shares of the financial services provider's stock valued at $91,208,000 after purchasing an additional 56,614 shares during the period. Norges Bank purchased a new position in Lincoln National in the fourth quarter worth $76,951,000. Arrowstreet Capital Limited Partnership grew its position in Lincoln National by 84.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,543,624 shares of the financial services provider's stock worth $48,948,000 after buying an additional 708,584 shares during the period. Balyasny Asset Management L.P. raised its holdings in Lincoln National by 301.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,522,195 shares of the financial services provider's stock worth $48,269,000 after purchasing an additional 1,142,759 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Lincoln National by 53.1% in the 4th quarter. First Trust Advisors LP now owns 1,258,512 shares of the financial services provider's stock valued at $39,907,000 after acquiring an additional 436,462 shares during the last quarter. Institutional investors and hedge funds own 72.81% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Lincoln National from $32.00 to $38.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods reduced their price target on Lincoln National from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler dropped their price target on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Wall Street Zen downgraded Lincoln National from a "hold" rating to a "sell" rating in a report on Sunday, June 15th. Finally, UBS Group upped their price target on shares of Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $36.82.

Insiders Place Their Bets

In other news, EVP Brian Kroll sold 10,075 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $33.10, for a total transaction of $333,482.50. Following the completion of the transaction, the executive vice president now directly owns 48,743 shares in the company, valued at approximately $1,613,393.30. The trade was a 17.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Sean Woodroffe sold 43,622 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $32.78, for a total value of $1,429,929.16. Following the completion of the sale, the executive vice president now owns 154,102 shares in the company, valued at approximately $5,051,463.56. This represents a 22.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

Lincoln National Stock Up 4.8%

Shares of LNC traded up $1.60 during midday trading on Thursday, hitting $34.53. The company had a trading volume of 2,365,545 shares, compared to its average volume of 1,652,768. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.81. Lincoln National Corporation has a 52 week low of $27.58 and a 52 week high of $39.85. The company's 50 day moving average price is $32.84 and its 200 day moving average price is $33.73. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 4.90, a PEG ratio of 0.44 and a beta of 1.40.

Lincoln National (NYSE:LNC - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. Lincoln National had a net margin of 7.00% and a return on equity of 18.71%. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.71 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The firm's revenue was up 14.0% compared to the same quarter last year. On average, equities research analysts predict that Lincoln National Corporation will post 7.69 EPS for the current year.

Lincoln National Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a $0.45 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.80 annualized dividend and a yield of 5.21%. Lincoln National's dividend payout ratio is presently 25.57%.

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.