Daymark Wealth Partners LLC Buys 139,988 Shares of Lincoln National Co. (NYSE:LNC)

Daymark Wealth Partners LLC grew its stake in shares of Lincoln National Co. (NYSE:LNC - Free Report) by 1,370.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,201 shares of the financial services provider's stock after acquiring an additional 139,988 shares during the quarter. Daymark Wealth Partners LLC owned about 0.09% of Lincoln National worth $5,394,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Range Financial Group LLC lifted its stake in shares of Lincoln National by 4.4% in the 1st quarter. Range Financial Group LLC now owns 35,410 shares of the financial services provider's stock worth $1,272,000 after purchasing an additional 1,508 shares during the period. Wedmont Private Capital lifted its stake in shares of Lincoln National by 11.0% in the 1st quarter. Wedmont Private Capital now owns 10,438 shares of the financial services provider's stock worth $375,000 after purchasing an additional 1,032 shares during the period. Vest Financial LLC bought a new position in shares of Lincoln National in the 1st quarter worth approximately $11,379,000. NBC Securities Inc. bought a new position in shares of Lincoln National in the 1st quarter worth approximately $33,000. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Lincoln National in the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 72.81% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on LNC shares. Piper Sandler decreased their target price on shares of Lincoln National from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Morgan Stanley raised their target price on shares of Lincoln National from $32.00 to $38.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Wall Street Zen upgraded shares of Lincoln National from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, UBS Group raised their target price on shares of Lincoln National from $32.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $36.82.

Insider Transactions at Lincoln National

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

Lincoln National Price Performance

LNC traded down $0.25 during trading hours on Wednesday, hitting $33.07. The company's stock had a trading volume of 1,155,071 shares, compared to its average volume of 1,626,143. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 1.80, a P/E/G ratio of 0.30 and a beta of 1.40. The business's 50-day moving average price is $32.31 and its 200-day moving average price is $33.88. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.80. Lincoln National Co. has a 12 month low of $27.58 and a 12 month high of $39.85.

Lincoln National (NYSE:LNC - Get Free Report) last posted 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 17.76% and a return on equity of 18.47%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.71 billion. During the same period in the previous year, the firm posted $0.41 EPS. The business's quarterly revenue was up 14.0% on a year-over-year basis. Sell-side analysts expect that Lincoln National Co. will post 7.69 earnings per share for the current fiscal year.

Lincoln National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 10th will be issued a $0.45 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.44%. Lincoln National's dividend payout ratio (DPR) is presently 25.57%.

About Lincoln National

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.