Daymark Wealth Partners LLC Has $16.04 Million Stock Position in Lincoln National Corporation $LNC

Daymark Wealth Partners LLC raised its position in Lincoln National Corporation (NYSE:LNC) by 208.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 463,619 shares of the financial services provider’s stock after acquiring an additional 313,418 shares during the period. Daymark Wealth Partners LLC owned approximately 0.27% of Lincoln National worth $16,041,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Jennison Associates LLC bought a new stake in Lincoln National during the second quarter worth $43,686,000. Y Intercept Hong Kong Ltd purchased a new position in Lincoln National during the second quarter worth about $1,314,000. State of New Jersey Common Pension Fund D lifted its stake in Lincoln National by 3.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 57,651 shares of the financial services provider’s stock worth $1,995,000 after purchasing an additional 1,922 shares during the last quarter. Ethic Inc. lifted its stake in shares of Lincoln National by 106.9% in the 2nd quarter. Ethic Inc. now owns 25,640 shares of the financial services provider’s stock valued at $886,000 after acquiring an additional 13,248 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Lincoln National in the 2nd quarter valued at about $2,858,000. 72.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Lincoln National news, EVP John Christopher Kennedy sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $39.29, for a total value of $196,450.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Lincoln National Price Performance

NYSE:LNC opened at $40.15 on Wednesday. Lincoln National Corporation has a one year low of $27.58 and a one year high of $43.66. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 0.51 and a beta of 1.43. The firm’s fifty day moving average is $40.76 and its two-hundred day moving average is $36.45.

Lincoln National (NYSE:LNC) last released its earnings results on Thursday, July 31st. The financial services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.45. Lincoln National had a net margin of 6.34% and a return on equity of 19.14%. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company posted $1.87 EPS. Research analysts expect that Lincoln National Corporation will post 7.69 EPS 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 paid 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 is Friday, October 10th. Lincoln National’s payout ratio is 31.41%.

Analysts Set New Price Targets

A number of research analysts have weighed in on LNC shares. Wall Street Zen upgraded Lincoln National from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Piper Sandler reissued a “neutral” rating and set a $42.00 price target on shares of Lincoln National in a report on Tuesday, October 7th. Wells Fargo & Company increased their price target on Lincoln National from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price objective on Lincoln National from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Lincoln National in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $43.09.

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.